Title 18A, Title 18A: EDUCATION

18A:66-175.1 Distribution under alternative benefit program. 10. Notwithstanding the provisions of section 9 of P.L.1969, c.242 (C.18A:66-175) or any other law or regulation to the contrary, a member or participant in the alternate benefit program who elects to receive a distribu…

18A:66-176 Group life insurance and disability benefits; noncontributory; coverage. 10. As of July 1, 1969 the group contract providing life insurance and disability benefits for all participants in the alternate benefit program of each public institution of higher education in t…

18A:66-177. Purchase of group life insurance and disability benefit coverage; alternate benefit group insurance premium fund As of July 1, 1969 the State Treasurer is hereby authorized and permitted to purchase from one or more insurance companies, as determined by him, group lif…

18A:66-178. Life insurance companies eligible to sell life and accidental death insurance Any life insurance company must meet the following requirements in order to qualify under section 11 of this act: a. Be licensed under the laws of the State of New Jersey to transact life an…

18A:66-179. Conversion privilege upon termination of employment or death Any such group policy or policies shall include, with respect to any insurance terminating or reducing because the participant has ceased to be in service or has retired, the conversion privilege available u…

18A:66-18 Contingent reserve fund. 18A:66-18. The contingent reserve fund shall be the fund in which shall be credited contributions made by the State and other employers. a. Upon the basis of the tables recommended by the actuary which the board of trustees adopts and regular in…

18A:66-18.1 Payment of pension adjustment benefits. 2. Pension adjustment benefits for members and beneficiaries of the Teachers' Pension and Annuity Fund as 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 …

18A:66-180. Designation of payee for death benefits Death benefits under such group policy or policies shall be paid by the insurance company to such person, if living, as the participant shall have nominated by written designation duly executed and filed with the insurance compa…

18A:66-181. Payment of death 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 period of y…

18A:66-182. Evidence of insurability a. Any person entitled to become a participant in an alternate benefit program shall not be allowed any of the group life and disability insurance benefits if on the date he files an application for participation he is 60 or more years of age …

18A:66-183 Designation of beneficiary; form; payment. 17. The designation of beneficiary by a participant or retirant shall be made in writing on a form satisfactory to the Division of Pensions and Benefits and filed with the division. The participant or retirant may, from time t…

18A:66-184 Disability benefits; payment; total disability; exceptions. 18. The disability benefits provided under a group policy or policies for all eligible participants in the alternate benefit programs shall provide a monthly income if the participant becomes totally disabled …

18A:66-185. Amount of disability benefits The disability benefits provided under such group policy or policies shall be in an amount equal to 60% of the participant's base monthly salary, reduced by periodic benefits to which the participant may be entitled during the period of t…

18A:66-186. Credit by insurer; savings on commissions Notwithstanding any other provision of law, any insurance company or companies, issuing such policy or policies may credit the policyholder either directly or in the form of reduced premiums, with savings by said company or co…

18A:66-187. Certain employer obligations prohibited 21. While any participant in the alternate benefit program may make personal contributions at any time directly to the insurers or mutual fund companies of the individual retirement annuities, no employer obligations will be pai…

18A:66-188. Cash surrender option; policy loans; conditions for annuity repurchase; affect on past and future contributions 22. The alternate benefit programs shall provide an option for cash surrender upon separation from service. The cash surrender shall be applicable only to e…

18A:66-189. Vesting of contributions; qualification under federal tax law 23. The Division of Pensions and Benefits may, in its sole discretion, qualify the alternate benefit program under section 401(a) or 403(a) of the federal Internal Revenue Code (26 U.S.C. s.401(a), s.403(a)…

18A:66-19 Annuity savings fund. 18A:66-19. The annuity savings fund shall be the fund in which shall be credited accumulated deductions and contributions by members or on their behalf to provide for their allowances. A single account shall be established in this fund for each per…

18A:66-19.1 TPAF members, eligibility based on one position. 25. a. Notwithstanding the provisions of any law to the contrary, after the effective date of P.L.2010, c.1, a person who is or becomes a member of the Teachers' Pension and Annuity Fund and becomes employed in more tha…

18A:66-190 Authority to enter into agreements for annuity purchases; method of payment; limitations. 24. The Board of Governors of Rutgers, The State University, the Board of Trustees of the New Jersey Institute of Technology, the Board of Trustees of Rowan University, the Board …

18A:66-191 Prohibited payments; authorized payments. 25. No retirement, death or other benefit shall be payable by the State, Rutgers, The State University, the New Jersey Institute of Technology, Rowan University, Montclair State University, Kean University, or the Division of P…

18A:66-192. Rules and regulations; operation of programs The Division of Pensions shall provide for all things necessary to prepare and operate said alternate benefit programs. The division shall adopt rules and regulations from time to time as it may deem necessary for the opera…

18A:66-2 Definitions. 18A:66-2. As used in this article: a. "Accumulated deductions" means the sum of all the amounts, deducted from the compensation of a member or contributed by or in behalf of the member, including interest credited to January 1, 1956, standing to the credit o…

18A:66-2.1. Teachers; membership in Teachers' Pension and Annuity Fund Any individual in the categories specified in section 1 p. of this act, who was a member of the Teachers' Pension and Annuity Fund on December 11, 1975, shall be considered to be in continuous membership in th…

18A:66-2.2 Veteran status determined for retirement allowance. 4. The Commissioner of the Department of Veterans Affairs shall be responsible for determining whether any person seeking to be considered a "veteran" under N.J.S.18A:66-2, for the purpose of eligibility for a veteran…

18A:66-20. Excess contributions returned (a) Any contributions made by a member in excess of those required shall be refunded with regular interest to January 1, 1956, to the member or his beneficiary or estate or shall, at his request, be used at retirement with regular interest…

18A:66-21. Retirement reserve fund The retirement reserve fund shall be the fund from which all retirement allowances shall be paid except those payable from the pension fund as provided in section 18A:66-22. Upon the retirement of a member other than a present-entrant, his accum…

18A:66-22. Pension fund The pension fund of the retirement system is the fund in which shall be accumulated the reserves for the payment of pensions to present-entrant members other than veterans, and from it shall be paid all retirement allowances of such present-entrant members…

18A:66-24. Interest fund There is hereby created an interest fund in which shall be accumulated interest received on the securities, funds and investments of the retirement system. From this fund the board of trustees shall periodically credit interest to the other funds of the s…

18A:66-25 Interest allowed on funds. 18A:66-25. The board of trustees at the end of each fiscal year shall allow interest on the balance of the contingent reserve fund, the annuity savings fund, the retirement reserve fund, pension fund, benefit enhancement fund and the members' …

18A:66-26. Death benefit fund The members' death benefit fund shall be a fund in which shall be accumulated contributions from the compensation of members to provide for their additional death benefits under the provisions of section 18A:66-53. Upon the death of a member electing…

18A:66-27. Special reserve fund The special reserve fund shall be the fund to which any earnings in excess of the amounts annually allowed under the provisions of section 18A:66-25 shall be transferred. No additional amounts shall be credited to the special reserve fund at any ti…

18A:66-29 Members' contribution rate. 18A:66-29. Members enrolled in the retirement system on or after July 1, 1994 shall contribute 5% of compensation to the system. Members enrolled in the system prior to July 1, 1994 shall contribute 5% of compensation to the system effective …

18A:66-29.1. Shortage in reserves or contributions; non-liability or deduction for retirement allowance Notwithstanding anything to the contrary, the retirement system shall not be liable for the payment of any pensions or other benefits on account of the employees or pensioners …

18A:66-3. Teachers' pension and annuity fund continued Notwithstanding the repeal of sections 24 to 110, inclusive, of chapter 13 of Title 18 of the Revised Statutes with all amendments and supplements thereto, as of January 1, 1956, by section 3 of chapter 37 of the laws of 1955…

18A:66-30. Employee's consent to deductions Every teacher to whom this article applies shall be deemed to consent and agree to any deduction from his compensation required by this article and to all other provisions of this article. Notwithstanding any other law, rule or regulati…

18A:66-31. System to certify contributions The retirement system shall certify to each employer the proportion of each member's compensation to be deducted, and to facilitate the making of deductions the retirement system may modify the deduction required by a member of such amou…

18A:66-32. Employer's duties Upon the employment of a person to whom this article may apply, his employer shall inform him of his duties and obligations under this article as a condition of his employment; the employer shall notify the retirement system of such appointment within…

18A:66-32.1. Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application 18A:66-32.1. a. If any member of the retirement system receives periodic benefits payable under the workers' compensation law during the cou…

18A:66-33. State contributions 18A:66-33. Regular interest charges payable, the creation and maintenance of reserves in the contingent reserve fund and the maintenance of retirement allowances and other benefits granted by the board of trustees under the provisions of this articl…

18A:66-34. Withdrawals A member who withdraws from service or ceases to be a teacher for any cause other than death or retirement shall, upon the filing of an application therefor, receive all of his accumulated deductions standing to the credit of his individual account in the a…

18A:66-35 Loans, interest rates, administrative fees. 18A:66-35. Any member who has at least 3 years of service to his credit for which he has contributed as a member may borrow from the retirement system, an amount equal to not more than 50% of the amount of his accumulated dedu…

18A:66-35.1 Repayment of loans after retirement of members of TPAF. 2. In the case of any member who retires without paying 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…

18A:66-36 Vesting of TPAF members. 18A:66-36. Should a member of the Teachers' Pension and Annuity Fund, after having completed 10 years of service, be separated voluntarily or involuntarily from the service, before reaching service retirement age, and not by removal for conduct …

18A:66-37 Early retirement. 18A:66-37. Should a member resign after having established 25 years of creditable service before reaching age 60, or before reaching the age of 62 if the person became a member of the retirement system on or after the effective date of P.L.2008, c.89, …

18A:66-38. Death benefits; contribution not required when leave is due to illness Upon the receipt of proper proofs of the death of a member in service on account of which no accidental death benefit is payable under section 18A:66-46, there shall be paid to such member's benefic…