SENATE BILL NO. 297
AN ACT TO AMEND CHAPTER 55, TITLE 29, DELAWARE CODE RELATING TO THE STATE EMPLOYEES PENSION PLAN.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend Section 5527(d), Title 29 of the Delaware Code by deleting the sentence beginning with the words "The minimum amount" and ending with the words "elected official" and substituting in lieu thereof the following:
"The minimum amount of pension payable to an elected member of the General Assembly or a retired elected member of the General Assembly shall be computed by multiplying his years of service as an elected member of the General Assembly times the highest rate of payment being paid to any retired member of the General Assembly, such rate to be computed by dividing the monthly pension being paid to such retired member by his or her years of service as an elected member of the General Assembly. An elected official shall be eligible to receive a pension beginning with the first month after the attainment of age 60, provided that he or she shall have served at least 5 years at the time of his or her termination of service as an elected official."
Approved February 8, 1982.