§5-10-22i. One-time supplement for certain annuitants effective
July 1, 2006.
(a) A one-time supplement to retirement benefits of three
percent, as determined by appropriation of the Legislature, shall
be provided to all retirees that are age seventy or older and have
been annuitants for at least five consecutive years as of the first
day of July, two thousand six, and beneficiaries of deceased
members who would have been at least seventy years of age or older
and have been annuitants for at least five consecutive years as of
the first day of July, two thousand six.
(b) The one-time supplement provided in this section applies
only to members who have retired at least five years prior to the
first day of July, two thousand six, or, if applicable, to
beneficiaries of deceased members who have been receiving benefits
under the retirement system at least five years prior to the first
day of July, two thousand six: Provided, That the supplement
provided herein is subject to any applicable limitations thereon
under Section 415 of the Internal Revenue Code of 1986, as amended.