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 Section 3902, Title 14, Delaware Code, is repealed and a new Section 3902 enacted in lieu thereof to read as follows: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 twenty-five (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 8901 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, $175 per month;
16 to 20 years of service, $180 per month; 21 to 25 years of service, $190 per month; 26 or more years of service, $200 per month.
Section 2. Section 3903, Title 14, Delaware Code, is amended by striking out the sum of $125 in the seventh line and by inserting in lieu thereof the sum of $175.
of $60,000 for the fiscal year beginning July 1, 1964 and ending June 30, 1965.
Section 4. This Act is a supplementary appropriation act and the money hereby appropriated shall be paid out of any moneys in the General Fund of the State of Delaware not otherwise appropriated.
Section 5. This amendment shall be effective July 1, 1964.
Approved July 1, 1964.