An individual who on June 30, 1993, is receiving monthly benefits from the fund on
an account paid under this chapter or under former chapter 15-39 is entitled to receive
three dollars per month multiplied by the individual's number of years of credited
service for individuals who retired before 1980, two dollars and fifty cents per month
multiplied by the individual's number of years of credited service for individuals
who retired after 1979 and before 1984, or one dollar per month multiplied by the
individual's number of years of credited service for individuals who retired after
1983 and who retire before July 1, 1993, or an increase of ten percent in the individual's
currently payable annuity, whichever is greater. The minimum monthly increase under this section is five dollars and the maximum
monthly increase under this section is one hundred dollars.
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