RELATING TO EMPLOYEES PENSIONS
AN ACT TO AMEND CHAPTER 17, TITLE 9, DELAWARE CODE OF 1953 RELATING TO EMPLOYEES' PENSIONS; RETIREMENT AGE; RETIREMENT PENSION BENEFITS; DISABILITY PENSION BENEFITS; EMPLOYEES RECEIVING COMPENSATION FROM COUNTY AND CITY OF WILMINGTON; PENSION BENEFITS.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. § 1704 (a), Chapter 17, Title 9, Delaware Code of 1953 is amended to read as follows:
§ 1704. Retirement age
(a) Every covered employee of the County of New Castle within the meaning of this Chapter, now or hereafter employed, may be retired after such employee shall have served in covered employment for 25 years, or on or after attaining the age of 60 years in the case of a female employee, or the age of 65 years in the case of a male employee, and shall after retirement during the remainder of his or her life receive the pension fixed by this Chapter, subject to such qualifications and reservations as are herein contained; provided that a covered employee may continue active work at the option of the department or agency by which he or she is employed up to the age of 65 years for female employees or 70 years of age for male employees.
Section 2. Subsections (a) and (b) of Section 1705, Chapter 17, Title 9, Delaware Code of 1953 are amended to read as follows:
§ 1705. Retirement pension benefits
(a) Any pension payable under this Chapter shall be subject to the limitation that the monthly pension payment shall not exceed $200.00 nor be less than $85.00 per month.
(b) The monthly pension payment shall be one-sixtieth of the monthly retiring base pay, multiplied by the number of years (a fractional period of six months or more shall be counted as one year and less than six months shall not be counted) which the employee shall have served in covered employment during the period that ends on the date of retirement and includes no interruptions from continuous covered employment except allowable interruptions aggregating not more than five years.
Section 3. § 1706, Chapter 17, Title 9, Delaware Code of 1953 is amended by striking out all of subsection (g) thereof.
Section 4. § 1716 (a), Chapter 17, Title 9, Delaware Code of 1953 is amended to read as follows:
§ 1716. Employees receiving compensation from county and City of Wilmington; pension benefits
(a) The monthly retirement and disability benefits for such employees as shall regularly receive part of their compensation from the City of Wilmington and New Castle County, or in alternate periods shall receive regular compensation from such City or County, shall be one-half of the monthly retiring base pay, divided by sixty, multiplied by the number of years which such employee shall have served in covered employment; in case the total combined monthly retirement or disability benefits calculated under the provisions of this Chapter and under any statute for the retirement of employees of the City of Wilmington be less than $85.00 or more than $200.00 then in lieu of such payment as calculated in this section the employee shall receive under this Chapter not less than $42.50 and not more than $100.00 as a monthly retirement or disability benefit.
Approved June 29, 1953.