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

43:3C-21 Qualified military service. 63. Effective December 12, 1994, notwithstanding any other provision of the retirement system law, contributions, benefits and service credit with respect to qualified military service are governed by section 414(u) of the federal Internal Rev…

43:3C-22 Prohibited transactions. 64. Effective as of July 1, 1989, a retirement board, or a member of such board, shall not engage in a transaction prohibited by section 503(b) of the federal Internal Revenue Code (26 U.S.C. s.503(b)). L.2011, c.78, s.64.

43:3C-23 Participation in qualified group trust. 65. Each retirement system may participate under Section 401(a)(24) of the federal Internal Revenue Code in a qualified group trust that meets the requirements of Section 401(a) of the federal Internal Revenue Code (26 U.S.C. s.401…

43:3C-24 Funding, payment of other post-employment benefits. 66. a. Post-employment benefits other than pensions under the State Health Benefits Program, P.L.1961, c.49 (C.52:14-17.25 et seq.), for retired employees, and their dependents, of employers other than the State that ar…

43:3C-25 Notification of change of beneficiary. 1. The Division of Pensions and Benefits in the Department of the Treasury shall provide for the prompt notification in writing of any member or retiree of the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66…

43:3C-26 Adoption of uniform method to conduct, report regular stress test analyses of State-administered retirement systems. 1. a. The boards of trustees of the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66-1 et seq., the Judicial Retirement System, es…

43:3C-3. Reemployment in elected public office; option for benefits Notwithstanding any other law to the contrary, if a former member of any pension fund or retirement system, contributory or noncontributory, established under any law of this or any other state, who has been gran…

43:3C-4. Depository institution defined As used in this act, "depository institution" means a banking institution as defined in section 1 of "The Banking Act of 1948," P.L.1948, c. 67 (C. 17:9A-1); an association as defined in section 5 of the "Savings and Loan Act (1963)," P.L.1…

43:3C-5. Agreement for direct deposit of monthly payment for retirant or beneficiary Any law, rule or regulation to the contrary notwithstanding, the Division of Pensions shall honor an agreement executed between a retirant or beneficiary of any retirement system established purs…

43:3C-6. Retirant, defined As used in this act, "retirant" means any person who was employed by the State of New Jersey, any of its instrumentalities, any of its political subdivisions, any of the instrumentalities of its political subdivisions, or any Board of Education, who as …

43:3C-7. Minimum retirement allowance A retirant shall receive a minimum retirement allowance of $6,000.00 per year from the Division of Pensions in the Department of the Treasury. L.1984, c. 156, s. 2, eff. July 1, 1984.

43:3C-8. Rules and regulations The Director of the Division of Pensions shall promulgate those rules and 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. L.1984, c. 156, s. 3, eff…

43:3C-9 Employer pickup of employee contributions. 1. The mandatory contributions by members or participants to the Teachers' Pension and Annuity Fund required by N.J.S.18A:66-31, to alternate benefit providers under the alternate benefit program required by section 8 of P.L.1969…

43:3C-9.1 Corpus, income of retirement systems, restrictions on use, diversions. 1. In accordance with the provisions of section 401 (a) (2) of the federal Internal Revenue Code, and subject to such exceptions as may be permitted for governmental plans under section 401 (a) (2) o…

43:3C-9.2 Limitations on contributions, benefits. 2. Notwithstanding any law, rule or regulation to the contrary, the contributions to and benefits payable under the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Prison Officers' Pension Fund, the Public …

43:3C-9.3. TPAF, JRS, PERS, PFRS, SPRS compensation limitation not to be exceeded 3. Notwithstanding any law, rule or regulation to the contrary, for members of the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Public Employees' Retirement System, the Po…

43:3C-9.4 Alternate Benefit Program, Defined Contribution Retirement Program, compensation limitation not to be exceeded. 4. a. Notwithstanding any law, rule or regulation to the contrary, for members of the Alternate Benefit Program, the amount of compensation which may be used …

43:3C-9.5 "Non-forfeitable right to receive benefits." 5. a. For purposes of this section, a "non-forfeitable right to receive benefits" means that the benefits program, for any employee for whom the right has attached, cannot be reduced. The provisions of this section shall not …

43:3C-9.6 Accrued benefits, rights of members. 41. a. Upon the termination of the Teachers' Pension and Annuity Fund, the Public Employees' Retirement System, the Judicial Retirement System, the Police and Firemen's Retirement System, the State Police Retirement System, the Priso…

43:4-1. Applies to veterans 43:4-1. This chapter shall apply to and include persons serving in and honorably discharged from the military or naval service of the United States, including nurses, in any war in which the United States is or has been engaged, and members of the Amer…

43:4-1.1. Veterans eligible for pension under this article War veterans employed in positions covered by any county or city public employee retirement system, established pursuant to chapter 160 of the laws of 1943, chapter 310 of the laws of 1948, chapter 218 of the laws of 1954…

43:4-1.2. Withdrawal from public employees' retirement system Any such war veteran who enrolled in the Public Employees' Retirement System of New Jersey shall be permitted to withdraw therefrom upon the filing of a proper application for the return of his contributions if he make…

43:4-2. Retirement of veterans; pension to widow 43:4-2. When an honorably discharged soldier, sailor or marine or an honorably discharged member of the American Merchant Marine who served during World War II and is declared by the United States Department of Defense to be eligib…

43:4-3. Amount of pension; pensions under other laws A person so retired shall be entitled, for and during his natural life, to receive by way of pension, one-half of the compensation then being received by him for his service, which shall be paid in the same way and in the same …

43:4-3.1. Increase of pension Effective January 1, 1968 the pension payable by any county, municipality or school district to any veteran retired on pension prior to January 1, 1955 pursuant to article 1 of chapter 4 of Title 43 of the Revised Statutes may be increased in accorda…

43:4-3.2. Pension increase table The first $900.00 of the annual pension or the full amount of the pension, if the same is less than $900.00 per year, shall be increased in accordance with a ratio of increase formula calculated in accordance with the percentage applicable for the…

43:4-3.3. Appropriations to pay increases Funds to pay the increases provided in this act shall be provided in the budgets of the county, municipality or school district from whose service the veteran retired on pension and shall be added to pension payments payable for any perio…

43:4-3.4. Waiver of increase; written request Any increase in pension, or a portion thereof, authorized by this act, may be waived upon written request of the person entitled thereto. L.1967, c. 294, s. 4, eff. Feb. 15, 1968.

43:4-4. Provision for pension; effect of abolition of office Provisions for all pensions arising under this article shall be made in the appropriation or tax levy for the department of the public service from which the person shall be retired. No pension shall cease or become inv…

43:4-5. Effect of article on beneficiaries under repealed acts This article shall not affect beneficiaries who were drawing pensions on March nineteenth, one thousand nine hundred and twelve, whether or not the acts under the authority of which such pensions were being drawn were…

43:4-6. Certain veterans employed as court reporters L.1921, c. 200, p. 623 (1924 Suppl. s.s. 50-149 to 50-155), entitled "An act to provide for the retirement and pensioning of any honorably discharged soldier, sailor, or marine, who served in the war of the rebellion, after he …

43:4-7. Waiver of portion of pension Any person who has retired or shall retire pursuant to any pension act or retirement system established pursuant to law may, upon written request, waive payment of a portion of any pension to which he is so entitled. L.1954, c. 169, p. 676, s.…

43:4-8. Payments in reduced amounts after waiver Upon receipt of such a waiver, and until the same is withdrawn or altered by a subsequent request, the department of the public service paying such pension shall make periodic payments in such reduced amount. L.1954, c. 169, p. 676…

43:4A-1. Time off with pay to attend meetings Any person who is an elected member of any board of trustees or commission established under chapter 13 of Title 18 of the Revised Statutes, chapter 37 of the laws of 1955, chapter 220 of the laws of 1941, chapter 16 of Title 43 of th…

43:4B-1 Retirement Systems Actuary Selection Committee. 19. There is hereby established the Retirement Systems Actuary Selection Committee which shall consist of the State Treasurer, and the directors of the Divisions of Pensions and Benefits and Investment, and Office of Managem…

43:4B-2. Information available to, provided to pension boards 20. The Director of the Division of Pensions shall annually communicate to the board of each pension system the relevant factors used in calculating the State's contributions to that system's accrued liability. Further…

43:4C-1. Waiver of noncontributory insurance 17. Notwithstanding the provisions of the laws governing the Teachers' Pension and Annuity Fund, the Public Employees' Retirement System, Alternate Benefit Programs, the Judicial Retirement System, the Police and Firemen's Retirement S…

43:5-1. Application of chapter This chapter shall apply to all persons in the State service, prior to January 1, 1922, qualifying hereunder. It shall not apply to any officer or employee of the State drawing a pension or who shall be entitled to do so under any other law. Amended…

43:5-2. Retirement on age and service for disability A person not having a fixed term of office who has been continuously in the employ of the state for a period of twenty-five years and has reached the age of sixty years, may retire or be retired at any time thereafter by reason…

43:5-3. Notice of disability; examination; approval of report by state house commission When it is made to appear not only that such physical or other disability exists, but that it will, in all reasonable probability, continue permanently, the employee may be retired from the se…

43:5-4. Amount of pension An employee so retiring shall, during his disability and for his natural life, be paid an annual salary or compensation, commencing with the date of the filing of his resignation, at the rate of one-half of the average annual salary and wage he received …

43:5-5. Payment of benefits upon death of certain state employees or retired state employees Upon the receipt of proper proof (1) of the death of any officer or employee in State service, who, had he lived and had he become incapacitated for service to the State, would have been …

43:5A-1. Definitions For the purposes of this act: a. "final compensation" means either (1) the average annual compensation of an employee during the last 60 months preceding the month in which the employee is retired, or (2) the average annual compensation of the employee for an…

43:5A-2. Persons eligible for retirement and pension Any person may be retired and granted a pension under this act who a. has been continuously employed by the State for at least 30 years; and b. has reached the age of 65, or is permanently and totally disabled; and c. is not el…

43:5A-2.1. State employee eligibility Notwithstanding the provisions of section 7 of P.L. 1954, c. 84 (C. 43:15A-7), as amended by P.L. 1985, c. 121, or any other law to the contrary, any employee who has been employed by the State continuously for at least 30 years, has become a…

43:5A-3. Amount of pension The amount of annual pension granted to a State employee retired under this act shall be equal to 1% of his final compensation multiplied by the number of years of continuous service immediately prior to his retirement, except that if his continuous ser…