AN ACT TO AMEND CHAPTER 17, TITLE 9, DELAWARE CODE, RELATING TO EMPLOYEES PENSIONS OF THE LEVY COURT OF NEW CASTLE COUNTY.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Subsection (a), Section 1717, Title 9, Delaware Code is amended by striking out subsection (a) thereof and inserting in lieu thereof a new subsection (a) to read as follows:
(a) In the event that an employee while in covered employment shall become eligible for old age insurance benefits (as such term is used in the Federal Social Security Act) the amount to which an employee upon retirement shall be eligible to receive under the provisions of this Act shall be reduced to the extent of 50% of such old age insurance benefits paid to the pensioner until June 30, 1964; thereafter benefits shall not be reduced by reason of such old age insurance benefits paid to pensioner.
All increases in benefits resulting from the passage of this Act shall apply to all persons receiving benefits pursuant to Chapter 17, Title 9, Delaware Code, on the effective date of this Act in addition to all those persons who become eligible for benefits under said chapter on or after the effective date of this Act. No person shall have his benefits reduced by reason of the passage or application of this Act.
Section 2. The provisions of this Act shall become effective July 1, 1962.
Approved July 10, 1961.