STATE EMPLOYEES' PENSION PLAN
AN ACT TO AMEND TITLE 29, DELAWARE CODE, ENTITLED "STATE GOVERNMENT" IN REGARD TO THE STATE EMPLOYEES' PENSION PLAN.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. § 5523, Title 29, Delaware Code, is amended to read as follows :
§ 5523. Amount of benefits
The pension shall be payable monthly and, subject to the limitation that the monthly payment shall not exceed $250 nor be less than $75, the monthly payment shall be one-sixtieth of the monthly retiring base salary multiplied by the number of years, taken to the nearest twelfth part of a year, which the employee shall have served in covered employment during the period that ends on the date of retirement.
Section 2. This Act shall be effective as of May 10, 1955.
Approved October 12, 1955.