SENATE BILL NO. 267
AN ACT TO AMEND CHAPTER 56, TITLE 29 OF THE DELAWARE CODE RELATING TO PENSIONS FOR MEMBERS OF THE STATE JUDICIARY.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. Amend §5603, Chapter 56, Title 29, Del. C,, by designating the first paragraph of subdivision (1) as new subsection (a) and designating the second paragraph of subdivision (1) as new subsection (b) (1). Further amend §5603 by redesignating current subdivision (2) as new subsection (c).
Section 2. Amend Subsection 5603 (b), Chapter 56, Title 29, Del. C,, by adding thereto a new paragraph (2) to read as follows:
"Anything to the contrary in this Section notwithstanding, the maximum pension of a retired Judge who has served more than 25 years and who retires between January 1, 1988 and December 31, 1989 shall be three-fourths of his or her average annual compensation to be computed based on a period equal to the retired Judge's highest paid sixty consecutive months reduced by one month for each month of service as a Judge in excess of 25 years up to a maximum reduction of twenty-four months. In no case shall a retired Judge's average annual compensation as calculated under this paragraph be based on a period of less than thirty-six months."
Approved July 9, 1987.