Title 18A, Title 18A: EDUCATION

18A:66-58. Actuary's report The actuary shall recommend, and the Division of Pensions shall keep in convenient form, such data as shall be necessary for actuarial valuation of the various funds created by this article. At least once in every 3-year period the actuary shall make a…

18A:66-58.1. Annuity values; determination without reference to sex Annuity values, including actuarial equivalents under optional selections, for all members of the Teachers' Pension and Annuity Fund shall be determined without reference to sex; provided, however, that this amen…

18A:66-59. Annual reports The retirement system shall publish annually a report showing a valuation of the assets and liabilities of the funds created by this article, certifying as to the accumulated cash and securities of the funds and stating other facts pertaining to the syst…

18A:66-6. New members placed in class B Any person becoming a member on or after January 1, 1956, shall become a class B member as a condition of his employment, and thereafter shall participate in the retirement system under the same conditions and with the same rights and privi…

18A:66-6.1 Membership required as condition of employment; delayed filing; contribution; payment. 39. a. In the case of any person who was required to become a member of the retirement system as a condition of employment, and whose application for enrollment in the retirement sys…

18A:66-60. No interest in fund by trustees or employees Except as otherwise herein provided, no trustee and no employee of the board of trustees shall have any direct interest in the gains or profits of any investments of the retirement system; nor shall any trustee or employee o…

18A:66-61 Trustees to control funds, investment council member, finance committee. 18A:66-61. The board of trustees shall be and are hereby constituted trustees of the various funds and accounts established by this article; provided, however, that all functions, powers and duties…

18A:66-62. Treasurer custodian of funds The state treasurer shall be the custodian of the funds created by this article, shall select all depositories and custodians and shall negotiate and execute custody agreements in connection with the assets or investments of any of said fun…

18A:66-63. Correction of errors by trustees If any change or error in records results in a member or beneficiary receiving from the retirement system more or less than he would have been entitled to receive had the records been correct, then on discovery of the error, the board o…

18A:66-64. False statements to defraud, misdemeanors A person who knowingly makes a false statement, or falsifies or permits to be falsified any record of the retirement system, in an attempt to defraud the system as a result of such act shall be guilty of a misdemeanor. L.1967, …

18A:66-65. Agreement on social security The authorization and direction of the state agency, with the approval of the governor, to enter on behalf of the state into an agreement with the secretary of the United States department of health, education and welfare for the purposes o…

18A:66-66. State, employer share of social security obligations 18A:66-66. The State shall provide the amount of the employer's share of the social security contributions for members by appropriations upon certification by the State Treasurer as to the amounts required; provided,…

18A:66-68. Effect of abolition of social security offset The repeal, by section 11 of chapter 66 of the laws of 1966, saved from repeal in section 18A:66-92 of this article, of section 68 of chapter 37 of the laws of 1955, chapter 218 of the laws of 1956, chapter 123 of the laws …

18A:66-69. Limitations on death benefits or other benefits Any other provision of this article notwithstanding, (a) any member who is not covered under the old-age and survivors insurance provisions of Title II of the Federal Social Security Act as a teacher shall not be eligible…

18A:66-7. Cessation of membership. 18A:66-7. Membership of any person shall cease: (a) if, except as provided in N.J.S.18A:66-8, he shall discontinue his service for more than 10 consecutive years; (b) upon the withdrawal by a member of his accumulated deductions as provided in t…

18A:66-70. Veterans' free membership in fund a. Each public employee veteran member shall have returned to him his accumulated deductions as of January 1, 1956, less contributions based on his compensation for the year 1955 at the rate of contribution provided in subsection b. Al…

18A:66-70.1. Permission for member to cancel purchase of credit 7. If, following application by a member of the retirement system to purchase credit therein under any provision of article 1 of chapter 66 of Title 18A of the New Jersey Statutes, as amended and supplemented, the me…

18A:66-71 Retirement allowance for veterans. 18A:66-71. a. Any public employee veteran member in office, position or employment of this State or of a county, municipality, or school district, board of education or other employer who (1) has or shall have attained the age of 60 ye…

18A:66-71.1. Veterans' retirement allowance 3. a. A retiree of the system who meets the definition of a veteran pursuant to this act, or the surviving spouse of a retiree, shall be eligible to receive the special veterans' retirement allowance pursuant to N.J.S.18A:66-71 in lieu …

18A:66-71.2 Increase in retirement allowance under subsection a. of N.J.S.18A:66-71 and N.J.S.18A:66-47. 7. The retirement allowance of each retiree under subsection a. of N.J.S.18A:66-71, or the retiree's beneficiary pursuant to N.J.S.18A:66-47, on the effective date of P.L.2001…

18A:66-71.3 Payment of normal contribution for increased benefits under subsection a. of N.J.S.18A:66-71. 8. The normal contribution for the increased benefits for active members under subsection a. of N.J.S.18A:66-71 as amended by section 6 of P.L.2001, c.353 shall be paid from …

18A:66-73. Adoption of social security act, etc., continued The referendum held, on October 26 and 27, 1955, under which a majority of the active contributing members of the teachers' pension and annuity fund, qualified to vote therein as required by section 218(d)(3) of the soci…

18A:66-74. Authorization to purchase group life insurance The State Treasurer is hereby authorized and permitted to purchase from one or more life insurance companies, as determined by him, a policy or policies of group life insurance to provide for the benefits specified in sect…

18A:66-75. Requirements for insurance company to qualify Any life insurance company must meet the following requirements in order to qualify under section 18A:66-74: (a) be licensed under the laws of the state of New Jersey to transact life and accidental death insurance, and (b)…

18A:66-76. Discretion in purchase of coverage The state treasurer may, in his discretion, determine to purchase group insurance coverage for the noncontributory death benefit provisions as provided in this article, or may determine not to purchase any group insurance coverage for…

18A:66-77. Premiums paid from special funds In the event the state treasurer shall determine to purchase group insurance coverage for the noncontributory death benefits, premiums for the same shall be paid from a special fund, hereby created, called the "group insurance premium f…

18A:66-78. Additional death benefits; contributions; adjustment In the event that the board of trustees of the teachers' pension and annuity fund shall determine to purchase group insurance coverage for the additional death benefit coverage, each member selecting the additional d…

18A:66-79. Policy to include conversion privilege; proof of insurability after conversion Any such group policy or policies shall include, with respect to any insurance terminating or reducing because the member has ceased to be in service or has retired, the conversion privilege…

18A:66-8 Continuance of membership. 18A:66-8. a. If a teacher: (1) is dismissed by an employer by reason of reduction in number of teachers employed in the school district, institution, or department when in the judgment of the employer it is advisable to abolish any office, posi…

18A:66-8.1. Discontinuance from teaching service through voluntary service in Peace Corps; continuance of membership; conditions If a teacher has been or hereafter shall be discontinued from teaching service through voluntary service in the Peace Corps of the United States, his m…

18A:66-80. Payment of benefits Benefits under such group policy or policies shall be paid by the company to such person, if living, as the member shall have nominated by written designation duly executed and filed with the insurance company through the policyholder, otherwise to …

18A:66-81. Arrangements for payment of benefits Any such group policy or policies shall provide that payment of any death benefits which are payable by the insurance company may be made in one sum directly to the beneficiary as hereinafter provided, in equal installments over a p…

18A:66-82. Policyholder credited in form of reduced premiums Notwithstanding any other provision of law, any insurance company or companies issuing such policy or policies may credit the policyholder, in the form of reduced premiums, with savings by said company or companies in t…

18A:66-83. Investment in and acquisition of real property The director of the division of investment in the department of the treasury, in addition to other investments authorized by law, shall have authority, subject to the approval and acceptance by the board of trustees of the…

18A:66-84. Limit on investment Any investment authorized pursuant to this article shall not exceed 2 1/2 % of the book value of the total investments of such fund at the time of the making of the investment or $11,500,000.00, whichever is the smaller amount. L.1967, c.271.

18A:66-85. Carried as an asset of the fund Any real estate investment made pursuant to this article shall at all times during its ownership by the fund be carried as an asset of the fund. L.1967, c.271.

18A:66-86. Terms of rental or lease; transfer of land to fund If the property is rented or leased to the state, it shall be on terms calling for level periodic rental payments, not more than one year apart, in such amounts as will amortize the total actual cost of the investment,…

18A:66-87. Purchase provisions during occupancy Should such real estate investment be sold to the state during its occupancy as tenant, the board of trustees of the fund shall accept, in full payment therefor, as well as for any state lands theretofore conveyed to it in connectio…

18A:66-88. Rental or lease arrangements; trustees to execute and deliver, etc. Any rental arrangement or lease to the state for the use of such real property shall provide that all costs and expenses for the operation, maintenance, repair and management of the real property shall…

18A:66-89. Selection of site, and acquisition of land The director of the division of purchase and property, subject to the approval of the state house commission, shall be responsible for the selection of a site, planning of any building to be constructed on behalf of the teache…

18A:66-8a Return to service, eligibility, enrollment in the fund. 6. a. A person who returns to service with an employer within the time period set forth in N.J.S.18A:66-7 or N.J.S.18A:66-8 shall be eligible for enrollment in the fund based on the eligibility requirements for enr…

18A:66-9. Resumption of discontinued membership 18A:66-9. If a teacher who has withdrawn the accumulated member's contributions from the retirement system as provided in N.J.S.18A:66-34 is reenrolled as a member, that teacher may purchase credit for all of the previous membership…

18A:66-90. Federal funds; state to be reimbursed; ascertainment of amount On or before September 1 of each year, on the basis of the most recent actuarial valuation of the Teachers' Pension and Annuity Fund and on the basis of the appropriate social security rate of contribution,…

18A:66-91 1955, c. 37, s. 3 (C. 18:13-112.5) 3. Sections 24 to 110, inclusive, of chapter 13 of Title 18 of the Revised Statutes of New Jersey with all amendments and supplements thereto are repealed as of the effective date of this act; provided, however, that the Teachers' Pens…

18A:66-92 1966, c. 66, s. 11 (C. 18:13-112.70f) 11. The following acts and parts of acts are repealed, effective July 1, 1966: P.L.1955, c. 37, s. 68; P.L.1956, c. 218; P.L.1960, c. 123; P.L.1962, c. 108; and P.L.1964, c. 190. The repeal of the aforesaid section and acts shall no…

18A:66-93 1966, c. 66, s. 12 (C. 18:13-112.35a) 12. The liabilities established pursuant to section 33(a) of the act to which this act is amendatory and supplementary on account of veteran members employed as teachers on January 1, 1955 shall be proportionately increased for each…