As of July 1, 1996, and subsequently every three (3) years, a three-percent (3%) adjustment shall be made to all annuities paid under this chapter, which are effective as of July 1 of the year in which the increase is granted, and which have been received for at least three (3) years before the date of the increase. Any increase granted by law to benefit all the annuities paid under the provisions of §§ 761 et seq. of Title 3, for reason of age, years of service or disability shall also be granted to the participants covered by the provisions of this chapter as of the date of effectiveness of the same.
History —June 27, 1958, No. 127, p. 300, added as § 3A on Aug. 13, 1996, No. 134, § 2; Feb. 15, 2008, No. 7, § 3.