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

43:21-7g. Rules, regulations 34. The commissioner shall, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) promulgate rules and regulations necessary to implement the provisions of this act, including any requirements regarding the keeping and r…

43:21-8. Period, election, and termination of employer's coverage (a) Any employing unit which is or becomes an employer subject to this chapter (R.S. 43:21-1 et seq.) within any calendar year shall be subject to this chapter (R.S. 43:21-1 et seq.) during the whole of such calend…

43:21-9. Unemployment compensation fund (a) Establishment and control. There is hereby established as a special fund, separate and apart from all public moneys or funds of this State, an unemployment compensation fund, which shall be administered by the Department of Labor exclus…

43:21-9.1. Cancellation of record of checks not presented for payment within 6 years The State Treasurer, as treasurer and custodian of the unemployment compensation and State disability benefits funds, is hereby authorized and directed to cancel of record and to refuse to honor …

43:22-1. Public policy declared In order to extend to certain persons holding office, position or employment in the service of the State and of any county, municipality or school district and of any public department, board, body, commission, institution, agency, instrumentality …

43:22-10. Partial invalidity If any provision of this act, or the application thereof to any person or circumstance is held invalid, the remainder of the act and the application of such provision to other persons or circumstances shall not be affected thereby. L.1951, c. 253, p. …

43:22-11. Employees of authority, commission or other instrumentality created by compact Any authority, commission or other instrumentality created by a compact between this State and any other State or States is hereby authorized upon the granting of like authority by such other…

43:22-12. Referendum on question of inclusion under agreement (a) The Governor is empowered to authorize a referendum on the question whether service in positions covered by a retirement system which is supported in whole or in part by the State and which is established by the St…

43:22-13. Transfer of member to public employees' retirement system Whenever a retirement system has been divided, (1) the State Agency shall execute, in conformity with section 218 of the Social Security Act and applicable Federal regulations, modifications to the Federal-State …

43:22-14. Expenses of administration of state agency; employers' proportionate shares The expenses of administration of the State Agency shall be paid by the State of New Jersey. Each employer shall reimburse the State for a proportionate share of the amount paid by the State for…

43:22-15 Grants-in-aid and other revenue from State utilized to pay employer's contributions; types of aid. 6. a. All State political subdivisions receiving financial aid, who provide Social Security coverage for their employees pursuant to the provisions of P.L.1951, c.253 (C.43…

43:22-2. Definitions For the purposes of this act: (a) The term "wages" means all remuneration for employment as defined herein, including the cash value of all remuneration paid in any medium other than cash, except that such term shall not include that part of such remuneration…

43:22-3 Agreement to extend Social Security Coverage. 3. The State agency, with the approval of the Governor or the official designated by the Governor, is hereby authorized to enter on behalf of the State into an agreement with the Secretary of Health and Human Services, consist…

43:22-4. Contributions by State employees (a) Every employee of the State whose services are covered by an agreement entered into under section 3 shall be required to pay for the period of such coverage, into the Contribution Fund established by section 6, contributions, with res…

43:22-5. Plan for extending benefits; submission by each employer; approval; requirements; contributions (a) Each employer other than the State coming within the provisions of this act is hereby authorized to submit for approval by the State agency a plan for extending the benefi…

43:22-7. Appropriation There is appropriated for the purposes of administering this act such sums as may from time to time be included in an annual or supplemental appropriation act. L.1951, c. 253, p. 897, s. 7.

43:22-8. Rules and regulations The State Agency shall make and publish such rules and regulations, not inconsistent with the provisions of this act, as it finds necessary or appropriate to the efficient administration of the functions with which it is charged under this act. L.19…

43:22-9. Studies by State Agency; report to governor and legislature The State Agency shall make studies concerning the problem of old-age and survivors insurance protection for employees of the State and local governments and their instrumentalities and concerning the operation …

43:23-1 Short title. 1. This act shall be known and may be cited as the "New Jersey Small Business Retirement Marketplace Act." L.2015, c.298, s.1.

43:23-10 Report to Legislature. 10. The State Treasurer, or the Treasurer's designee, shall report biennially to the Legislature on the effectiveness and efficiency of the marketplace, including levels of enrollment and the retirement savings levels of participating enrolled that…

43:23-11 Compliance. 11. The State Treasurer, or the Treasurer's designee, shall ensure that any individual retirement account products proposed for inclusion in the marketplace comply with the requirements of section 5 of this act. L.2015, c.298, s.11.

43:23-12 Regulations. 12. The Department of the Treasury shall promulgate regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) necessary to effectuate the purposes of this act. In promulgating regulations, the State Treasurer, or the T…

43:23-13 Short title. 1. This act shall be known and may be cited as the "New Jersey Secure Choice Savings Program Act." L.2019, c.56, s.1.

43:23-14 Definitions relative to certain retirement plans. 2. As used in this act: "Board" means the New Jersey Secure Choice Savings Board established pursuant to this act. "Department" means the Department of the Treasury. "Employee" means any individual who is 18 years of age …

43:23-15 New Jersey Secure Choice Savings Program. 3. A retirement savings program in the form of an automatic enrollment payroll deduction IRA, known as the New Jersey Secure Choice Savings Program, is hereby established and shall be administered by the board for the purpose of …

43:23-16 Special fund outside of General Fund. 4. a. The New Jersey Secure Choice Savings Program Fund is established as a special fund outside of the General Fund, separate and apart from all public moneys or funds of this State, with the board established pursuant to section 6 …

43:23-17 Nonappropriated separate and apart trust fund. 5. The New Jersey Secure Choice Administrative Fund is created as a nonappropriated separate and apart trust fund outside of the General Fund in the Department of the Treasury, to be used exclusively for the purpose of this …

43:23-18 New Jersey Secure Choice Savings Board. 6. There is established in, but not of, the Department of the Treasury the New Jersey Secure Choice Savings Board. a. The board shall consist of the following members: (1) the State Treasurer, or the State Treasurer's designee, who…

43:23-19 Duties of board, trustee, agents. 7. The board, the individual members of the board, the trustee appointed under subsection b. of section 8 of this act, any other agents appointed or engaged by the board, and all persons serving as program staff shall discharge their dut…

43:23-2 Findings, declarations relative to a New Jersey Small Business Retirement Marketplace. 2. The Legislature finds and declares that: a. it is appropriate to create a New Jersey Small Business Retirement Marketplace because there is a retirement savings gap in this State, on…

43:23-20 Additional duties, responsibilities of board. 8. In addition to the other duties and responsibilities provided in P.L.2019, c.56 (C.43:23-13 et seq.), the board shall: a. Design, establish, and operate the program in a manner that: (1) accords with best practices for ret…

43:23-21 Annual statement of investment policy. 9. The board shall annually prepare and adopt a written statement of investment policy that includes a risk management and oversight program. This investment policy shall prohibit the board, program, and fund from borrowing for inve…

43:23-22 Investment, reinvestment of moneys in the fund; reports. 10. a. Moneys in the fund shall be invested, or reinvested, as the case may be, by the department. The department shall comply with any and all applicable federal and State laws, rules, and regulations, as well as …

43:23-23 Investment options. 11. a. The board may establish any or all of the following investment options: (1) a capital preservation fund, which prioritizes the security of the deposit over the rate of return. If the board elects to establish a capital preservation fund, the bo…

43:23-24 Allocation of interest, investment earnings, and investment losses. 12. Interest, investment earnings, and investment losses shall be allocated to individual program accounts as established by the board pursuant to subsection d. of section 8 of this act. An individual's …

43:23-25 Information packets. 13. a. Prior to the opening of the program for enrollment, the board shall design and disseminate to all employers an employer information packet and an employee information packet, which shall include background information on the program, appropria…

43:23-26 Implementation of program, enrollment of employees. 14. The program shall be implemented, and enrollment of employees shall begin, within 24 months after the effective date of P.L.2019, c.56 (C.43:23-13 et seq.). The board may extend the time period within which the prog…

43:23-27 Payments by employer to fund. 15. Employee contributions deducted by the participating employer through payroll deduction, less any amount withheld for State income tax pursuant to regulations adopted by the board in consultation with the department, shall be paid by the…

43:23-28 State has no duty, liability. 16. a. The State shall have no duty or liability to any party for the payment of any retirement savings benefits accrued by any individual under the program. Any financial liability for the payment of retirement savings benefits in excess of…

43:23-29 Immunity from liability for employers; responsibilities. 17. a. Participating employers shall not have any liability for an employee's decision to participate in, or opt out of, the program or for the investment decisions of the board or of any enrollee. b. The program i…

43:23-3 Definitions relative to a New Jersey Small Business Retirement Marketplace. 3. As used in this act: "Approved plans" means retirement plans offered by private sector financial services firms that meet the requirements of this act to participate in the marketplace. "Balanc…

43:23-30 Annual reports. 18. a. The board shall annually submit to the Governor and the department, and to the Legislature pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1): (1) an audited financial report, prepared in accordance with generally accepted accounting principle…

43:23-31 Penalties for noncompliant employers. 19. a. An employer who fails without reasonable cause to enroll any employee within the time prescribed under section 14 of P.L.2019, c.56 (C.43:23-26) shall be subject to: (1) for the first calendar year during which at any point a …

43:23-32 Rules, regulations. 20. The board, in consultation with the department, shall adopt, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), any rules and regulations as may be necessary for the implementation of this act. L.2019, c.56, s.20…

43:23-33 Severability, assets not deemed assets for certain purposes. 21. a. If any clause, sentence, paragraph, section or other part of the act shall be adjudged by any court of competent jurisdiction to be invalid, including any judgment made pursuant to R.S.1:1-10 that the pa…

43:23-4 New Jersey Small Business Retirement Marketplace. 4. There is established the New Jersey Small Business Retirement Marketplace in the Department of the Treasury. L.2015, c.298, s.4.