Title 43, Title 43: PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION

43:6A-11.2 Deferred retirement, annuities, Judicial Retirement System, reactivation. 1. A person who deferred retirement pursuant to section 1 of P.L.2019, c.287 (C.43:6A-11.1) between November 1, 2020 and the effective date of this act, P.L.2023, c.31 (C.43:6A-11.2), and had rec…

43:6A-12. Disability retirement Whenever the Supreme Court shall certify to the Governor, any member who shall have served as a judge of the several courts, may be retired for disability if the member has become physically or otherwise incapacitated for full and efficient service…

43:6A-13. Retired judge not to engage in practice of law; assignment to sit in court 13. a. (1) No member of the retirement system shall, while receiving a pension or retirement allowance pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), engage in the practice of law before any of…

43:6A-14. Membership in other retirement system under state law a. Any judge who is required to be a member of the retirement system established by this act and who holds membership in a retirement system established pursuant to any other law of this State shall cease to be a mem…

43:6A-14.1. Election to terminate membership in other retirement system or waiver of joinder in judicial retirement system; credit for public service a. Any judge who is required to be a member of the retirement system and who is receiving a retirement allowance or pension from a…

43:6A-14.2. Credit for previous service in office, position or employment of state or governmental entity; application; purchase; employer's accrued liability obligation a. Following the effective date of this amendatory and supplementary act, any judge who shall be appointed to …

43:6A-15. Veterans; ineligibility for retirement benefits as public employee No public employee veteran eligible for membership in the retirement system established by this act shall be eligible for, or receive, retirement benefits under R.S. 43:4-1, 43:4-2 and 43:4-3. L.1973, c.…

43:6A-16. Pensions and retirement allowances in monthly installments 16. All pensions or retirement allowances granted under the provisions of this act shall be effective on the first day following retirement, shall be paid in equal monthly installments, except that in those inst…

43:6A-16.1. Options for payment of survivor benefits in Judicial Retirement System 1. At the time of retirement, a member of the Judicial Retirement System, established pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), shall receive benefits in a retirement allowance payable throu…

43:6A-16.2. Form required when member chooses certain option; notification to spouse 2. Whenever a member of the Judicial Retirement System elects a retirement allowance which is payable for the life of the member only and terminating at the member's death, without refund of any …

43:6A-17. Death in active service; payments to beneficiaries a. Upon the receipt of proper proofs of the death in active service of a member of the retirement system, there shall be paid to his widow a survivor's benefit of 25% of final salary for the use of herself, to continue …

43:6A-17.1 Additional death benefit for members of Judicial Retirement System. 1. a. Each member of the retirement system on the effective date of any insurance contract or program approved by the State House Commission will be eligible to purchase the additional death benefit co…

43:6A-18. Death after retirement; payments to beneficiaries Upon the receipt of proper proofs of the death after retirement of a member of the retirement system, there shall be paid to his widow a survivor's benefit of 25% of final salary for the use of herself, to continue durin…

43:6A-19. Death of retirant on pension or retirement allowance based on age and service or early retirement; payments to beneficiary Upon the receipt of proper proofs of the death of a member who has retired on a pension or retirement allowance based on age and service, or pursua…

43:6A-2. Severability If any provision, section, or part of any section of this act is declared to be unconstitutional, the same shall not be held to affect any other section or provision of this act, and the remainder of this act shall in no wise thereby be invalidated. L.1973, …

43:6A-20. Death of disability retirant; payments to beneficiary Upon the receipt of proper proofs of the death of a member who has retired on a disability pension or retirement allowance, there shall be paid to the member's beneficiary, an amount equal to one and one-half times t…

43:6A-21. Group life insurance coverage; authorization to purchase; benefits in lieu of death benefits The State Treasurer is hereby authorized and permitted to purchase from one or more life insurance companies, as determined by him, group life insurance coverage to provide for …

43:6A-22. Qualifications for life insurance company Any life insurance company must meet the following requirements in order to qualify under section 21: a. be licensed under the laws of the State of New Jersey to transact life and accidental death insurance; and b. the amount of…

43:6A-23. Option on purchase of group life insurance coverage for death benefit provisions The State Treasurer may, in his discretion, determine to purchase group life insurance coverage for the death benefit provisions as provided in sections 17 b., 19 and 20, or may determine n…

43:6A-24. Group life insurance coverage; payment of premiums; group insurance premium fund In the event the State Treasurer shall determine to purchase group insurance coverage for the death benefits, premiums for the same shall be paid from a special fund, hereby created, called…

43:6A-25. Terms of policy Any such group policy or policies shall include, with respect to any insurance terminating or reducing because an insured person has ceased to be in active service or has retired, the conversion privilege available upon termination of employment as presc…

43:6A-26. Payment of benefits Benefits under such group policy or policies shall be paid by the insurance company to such person, if living, as the insured person shall have nominated by written designation duly executed and filed with the insurance company through the policyhold…

43:6A-27. Settlement options 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 period of years or a…

43:6A-28. Reduction of premiums for non payment of commissions; authorization 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 …

43:6A-29 State House Commission, operation of system. 29. a. Subject to the provisions of P.L.1955, c.70 (C.52:18A-95 to 52:18A-104), the general responsibility for the proper operation of the retirement system is hereby vested in the State House Commission. b. Except as otherwis…

43:6A-3 Definitions. 3. As used in this act: a. "Accumulated deductions" means the sum of all amounts, deducted from the compensation of a member or contributed by him or on his behalf, standing to the credit of his individual account in the annuity saving fund. b. "Annuity" mean…

43:6A-3.1. Final salary; retirement after January 1, 1982 Notwithstanding the provisions of any law, rule or regulation to the contrary, the final salary of any member who retires after January 1, 1982 shall be the annual salary to which that member would have been entitled had h…

43:6A-30. Trustee of funds; custodian of funds; administration of program 30.a. The State House Commission shall be and is hereby constituted the trustee of all the various funds established by this act except the group insurance premium fund; provided, however, that all function…

43:6A-31. Actuarial investigation and valuation; adoption of tables for mortality, service, etc. The actuary shall recommend such data as shall be necessary for actuarial valuation of the various funds created by this act. Once in every 3-year period the actuary shall make an act…

43:6A-32. Contingent reserve, annuity savings and retirement reserve funds; establishment Under this act there shall be established a contingent reserve fund, an annuity savings fund, and a retirement reserve fund. L.1973, c. 140, s. 32, eff. May 22, 1973. Amended by L.1981, c. 4…

43:6A-33 Computation of contributions; valuation of assets; contingent reserve fund. 33. a. Upon the basis of the tables recommended by the actuary which the commission adopts and regular interest, the actuary shall compute annually, beginning as of June 30, 1992, the amount of t…

43:6A-33.1. Payment of pension adjustment benefits, funding 10. Pension adjustment benefits for members and beneficiaries of the Judicial Retirement System provided by the "Pension Adjustment Act," P.L.1958, c.143 (C.43:3B-1 et seq.) shall be paid by the retirement system and sha…

43:6A-34. Retirement reserve fund; source of funds for payment of pensions The retirement reserve fund shall be the fund from which all pensions and retirement allowances shall be paid. Upon the retirement of the member his accumulated deductions together with regular interest sh…

43:6A-34.1 Annuity savings fund, payroll deductions. 26. a. The annuity savings fund shall be the fund to which shall be credited aggregate contributions made by members or on their behalf to provide for their allowances. The aggregate contributions of a member withdrawn by him o…

43:6A-34.2. State house commission; interest on balance in annuity savings, contingent reserve and retirement reserve funds The State House Commission at the end of each fiscal year shall allow interest on the balance of the annuity savings fund, contingent reserve fund and the r…

43:6A-34.3 Borrowing by members from retirement system, interest rates. 1. Notwithstanding any provision to the contrary, any member who has at least three years of service to the member's credit for which the member has contributed as a member may borrow from the retirement syst…

43:6A-34.4 Repayment of loans after retirement of members of JRS. 2. In the case of any member who retires without repaying the full amount so borrowed, the Division of Pensions and Benefits shall deduct from the retirement benefit payments the same monthly amount which was deduc…

43:6A-35. Retirement system; interest on balance in contingent reserve, annuity savings and retirement reserve funds The retirement system at the end of each fiscal year shall allow interest on the balance of the contingent reserve fund, the annuity savings fund, and the retireme…

43:6A-36. Obligations of act as obligations of state; budget and appropriation of amounts to meet obligations Regular interest charges payable, the creation and maintenance of reserves in the contingent reserve fund, the maintenance of retirement reserves as provided for in this …

43:6A-37. Inapplicability of other laws on pensions or retirement benefits to members or beneficiaries; nonliability of system it reserves nonexistent a. No other provisions of the law in any other statute which provides wholly or partly at the expense of the State of New Jersey …

43:6A-38. Error in records; correction Should any change or error in the records of this retirement system result in any member or person receiving from the retirement system more or less than he would have been entitled to receive had the records been correct, the retirement sys…

43:6A-39. Waiver of payment of portion of payment of pension, retirement allowance or benefit Any member or any beneficiary who has been or, in the future, may be retired, or receive a pension, retirement allowance or benefit pursuant to the provisions of this act, may, by filing…

43:6A-4. Establishment; powers and privileges; purpose There is hereby established the "Judicial Retirement System of New Jersey" in the Division of Pensions of the Department of the Treasury. It shall have the powers and privileges of a corporation. Its purpose is to provide pen…

43:6A-40. Deductions to pay premiums; authorization by written request If possible, whenever any retirant or beneficiary shall, in writing, request the Division of Pensions to make deductions from his pension or retirement allowance for the purpose of paying premiums for the pens…

43:6A-41. Right to pension, retirement allowance or benefit and moneys in various funds; exemption from taxes and legal process; unassignability The right of a person to a pension, retirement allowance or any benefit or right accrued or accruing to a person under the provisions o…

43:6A-42. Designation of beneficiary; writing; filing; change; rights of beneficiaries; election of payment of death benefits The designation of beneficiary by a member or retirant shall be made in writing on a form satisfactory to the retirement system, and filed with the retire…