AN ACT TO AMEND SECTIONS 3902 AND 3903, TITLE 14, DELAWARE CODE, RELATING TO TEACHERS' RETIREMENT AND DISABILITY PENSIONS.
Be it enacted by the General Assembly of the State of Delaware:
Section 1. Section 3902, Title 14, Delaware Code, is repealed and a new Section 3902 enacted in lieu thereof to read as follows:
§ 3902. Retirement benefits
Teachers who were inactive in their profession on April 23, 1945, who, prior to that date, taught in the public schools of this State for 25 years or more and are no longer capable of teaching, and teachers who were inactive in their profession on April 23, 1945, who, prior to that date, taught in the public schools of this State for 15 years or more and who attain the age of 65, shall be entitled to receive a pension out of the fund continued by Section 3901 of this Title for the duration of their respective lives. The amount of. such pension shall be determined by the number of years of teaching service, as follows:
15 years of service, $125 per month;
16 to 20 years of service, $130 per month;
21 to 25 years of service, $140 per month;
26 or more years of service, $150 per month.
Section 2. Section 3903, Title 14, Delaware Code, is amended by striking out the sum of $75 in the seventh line and by inserting in lieu thereof the sum of $125.
Section 3. This amendment shall be effective July 1, 1961.
Approved February 15, 1962.