CHAPTER 152
FORMERLY
SENATE BILL NO. 184
AN ACT TO PAY CERTAIN FUNDS TO FRANK J. CARELLO, JR. FOR HIS SERVICES AS A MEMBER OF THE UNEMPLOYMENT COMPENSATION COMMISSION.
AN ACT TO PAY CERTAIN FUNDS TO FRANK J. CARELLO, JR. FOR HIS SERVICES AS A MEMBER OF THE UNEMPLOYMENT COMPENSATION COMMISSION.
WHEREAS, Frank J. Carello, Jr. was appointed a member of the Unemployment Compensation Commission in May, 1961 and served as Chairman of the Unemployment Appeals Board until January 30, 1992, retiring due to health reasons; and
WHEREAS, Mr. Carello's combined service on the Unemployment Compensation Commission and the Unemployment Appeals Board amounts to more than thirty years; and
WHEREAS, in May 1963 the General Assembly increased the annual salary of the members of the Unemployment Compensation Commission from five thousand dollars ($5,000) to six thousand dollars ($6,000) annually; and
WHEREAS, the increase was not paid to members of the Unemployment Compensation Commission until July 3, 1986, a period of twenty-three years during which the members were underpaid; and
WHEREAS, any funds paid to Frank J. Carello, Jr. under this Act should be paid from the Unemployment Compensation Administration Fund, as set forth in §3105, Title 19 of the Delaware Code, and not from the General fund; and
WHEREAS, the sum of one thousand dollars ($1,000), each year for a period of twenty-three years, at the rate of five percent (5%) compounded daily (or 5.127% yearly) amounts to $42,093.18; and
WHEREAS, Mr. Carello should be paid the amount of money fairly owed to him. THEREFORE:
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF DELAWARE:
Section 1. The Unemployment Compensation Administration Fund is hereby authorized and directed to pay to Frank J. Carello, Jr. the sum of $42,093.18, either as a lump sum or in such monthly payments as the Fund and Mr. Carello shall agree.
Approved July 7, 1995