19-20-708. Cost-of-living increase. Effective July 1, 1985, each monthly service or disability retirement allowance or survivorship allowance payable to a member of the teachers' retirement system retired before July 1, 1983, or his beneficiary must be increased as follows:
     (1) 50 cents for each year of creditable service for a member or beneficiary receiving a monthly allowance of more than $500 but less than $1,000, exclusive of the increase provided in this subsection; and
     (2) $1 for each year of creditable service for a member or beneficiary receiving a monthly allowance of $500 or less, exclusive of the increase provided in this subsection.

     History: En. Sec. 1, Ch. 658, L. 1985; Sec. 19-4-708, MCA 1991; redes. 19-20-708 by Code Commissioner, 1993.