CHAPTER 476

FORMERLY

SENATE SUBSTITUTE NO. 1

FOR

SENATE BILL NO. 36

AN ACT TO AMEND CHAPTERS 55 AND 56, TITLE 29, DELAWARE CODE RELATING TO COMPUTATIONS OF JUDICIAL AND STATE EMPLOYEE PENSIONS.

BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:

Section 1. Amend §5501(b)(9), §5501(b)(11), and §5501(d) Chapter 55, Title 29, Delaware Code, by striking the number "60" wherever it appears therein and substituting in lieu thereof the number "36".

Section 2. Amend §5501(d), Chapter 55, Title 29, Delaware Code, by striking the number "5" wherever it appears therein and substituting in lieu thereof the number "3".

Section 3. Amend §5501(e), Chapter 55, Title 29, Delaware Code by deleting the language beginning with the words "shall mean" and ending with the .word "provided," and substituting in lieu thereof the following:

"shall mean 1/36 of the compensation paid to an employee during any period of 36 consecutive months or any 36 months comprised of 3 periods of 12 consecutive months in his or her years of service credited under paragraphs (1), (2) and (3) of subsection (b) of this section in which his or her compensation was highest, or the average monthly compensation paid to an employee during the period of his or her service credited under paragraphs (1), (2) and (3) of subsection (b) of this section if such period is less than 36 months, except that compensation in excess of $24,000 during any calendar year or the sum of any partial calendar years in such period of 36 months shall be excluded and total compensation for such period of 36 months shall not exceed $72,000; provided,".

Section 4. Amend §5600(3), Chapter 56, Title 29, Delaware Code, by striking the phrase "5 consecutive years" wherever it appears therein and substituting in lieu thereof the phrase "3 years, comprised of three periods of 12 consecutive months,", and by striking the phrase "5 years" wherever it appears therein and by substituting in lieu thereof the phrase "3 years".

Section 5. Amend §5603(1) and §5603(2)a., Chapter 56, Title 29, Delaware Code, by striking the phrase "paid 5 consecutive years" wherever it appears therein and substituting in lieu thereof the phrase "paid 3 years comprised of 3 periods of 12 consecutive months".

Section 6. Amend §5603(1) and §5603(2)a., Chapter 56, Title 29, Delaware Code, by striking the phrase "served 5 consecutive years" wherever it appears therein and substituting in lieu thereof the phrase "served 3 years".

Section 7. The effective date of this Act shall be July 1, 1998, providing that sufficient funds therefore are appropriated by the General Assembly.

Approved July 17, 1998