N.J. Stat. § 43:10-29.4
Any county of the second class which is paying pensions to retirants pursuant to the provisions of article 2 of chapter 10 of Title 43 of the Revised Statutes, may, from time to time, by resolution or ordinance, as appropriate, of the governing body of the county, make adjustments in the amounts of the pension benefits payable to said retirants so as to reflect increases or decreases in living costs and maintain the purchasing power of their pension benefits in a reasonably uniform state.
Any such adjustment may be made notwithstanding that the amount of pension benefits thereby payable will exceed the amount prescribed by R.S. 43:10-20 and R.S. 43:10-21, but no such adjustment shall be made that will reduce pension benefits below the amount so prescribed.
N.J.S. § 43:10-29.4