43:13-38.1. "Salary" and "half pay" defined; maximum pension
The word "salary," as used in this article, shall mean the average annual salary paid during the last five years of a member's service, or in the event he or she has been employed for less than five years, the average annual salary he or she received during the time that he or she was employed. The words "half pay," as used in this article, shall mean half of the average annual salary paid during the last five years of a member's service, or in the event he or she has been employed for less than five years, the average annual salary he or she received during the time he or she was employed, and all pensions granted under this article shall be based on such average salary, regardless of any other provision of law; provided, however, that no pension shall be paid hereunder in excess of three thousand seven hundred fifty dollars ($3,750.00) per annum.
L.1945, c. 213, p. 715, s. 6.
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Last modified: October 11, 2016