19-20-714. Benefit adjustment for pre-July 1977 retirees. Effective January 1, 1994, a person who retired prior to July 1, 1977, and who is receiving a monthly retirement benefit must receive a one-time benefit increase of 0.5% for each year of service on record with the teachers' retirement system for which the person did not receive retirement service credit because of now-repealed provisions that limited service credit to years on which contributions were made prior to age 60 or to 35 years of service, whichever was greater.

     History: En. Sec. 1, Ch. 530, L. 1993.