(a) Member benefits.
(1) Effective January 1, 2017, benefits shall be increased for any current beneficiary who has maintained active status for seven years out of the past ten years (January 1, 2007 to December 31, 2016). Benefits shall be increased as follows:
(i) 25 to 34 years of active service -- $300.00 per month;
(ii) 35 to 44 years of active service -- $350.00 per month; and
(iii) 45 or more years of active service -- $400.00 per month.
(2) Effective January 1, 2017, any new beneficiaries that become eligible for benefits shall receive a benefit payment in accordance with the above scale and shall be eligible for benefit increases as they obtain the next service milestone on the benefit scale. Beneficiaries who have not maintained active status for seven years out of the past ten years (January 1, 2007 to December 31, 2016) shall continue to receive a benefit payment of $250.00 per month for life.
(3) Effective January 1, 2017, any beneficiary who is eligible for benefits under § 12-1-304(b)(2) of this Code shall receive a benefit payment of $400.00 per month for life.
(b) Surviving spouse benefits. Beginning on or after January 1, 2017, the surviving spouse benefit for any new surviving spouses shall be 50% of the member benefit at the time of the member's death.
(c) Payment of benefits. The payment of benefits shall begin on the first day of the first month following eligibility.
(1985 Code, Art. 18, § 1-214) (Bill No. 35-90; Bill No. 23-01; Bill No. 90-16)