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

43:15A-36. Interest in fund by trustee or employee prohibited 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 empl…

43:15A-37 Obligations of State; basis of State appropriation. 37. 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 act and the payment of all retirement allowa…

43:15A-38 Vesting of PERS members. 38. Should a member of the Public Employees' Retirement System, 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 cause on charg…

43:15A-39 Computing service. 39. In computing for retirement purposes the total service of a member about to be retired, the retirement system shall credit the member with the time of all service rendered by the member since that member's last enrollment, and in addition with all…

43:15A-39.1 Credit in retirement system for members on approved leave of absence. 3. Any member who serves, while on an approved leave of absence from regular duties, as an officer or representative of a local, county or State labor organization which represents, or is affiliated…

43:15A-4. Repeal of acts establishing State Employees' Retirement System Chapters 14 and 15 of Title 43 of the Revised Statutes and all amendments and supplements thereto, designated as the "State Employees' Retirement System of New Jersey" are repealed as of the effective date o…

43:15A-41 Withdrawal from service; early retirement; death benefits. 41. a. A member who withdraws from service or ceases to be an employee for any cause other than death or retirement shall, upon the filing of an application therefor, receive all of his accumulated deductions st…

43:15A-41.1. Eligibility for death benefit; evidence of insurability a. Any person entitled to become a member of the Public Employees' Retirement System shall not be allowed any of the death benefits established by sections 38, 41, 45, 46, 48 and 49e, of chapter 84 of the laws o…

43:15A-42 Ordinary disability retirement. 42. A member, under 60 years of age, who has 10 or more years of credit for New Jersey service, shall, upon the application of the head of the department in which he shall have been employed or upon his own application or the application …

43:15A-42.1 Disability insurance for certain PERS members; "Public Employees Group Disability Insurance Premium Fund." 11. a. A person who becomes a member of the Public Employees' Retirement System of New Jersey, P.L.1954, c.84 (C.43:15A-1 et seq.), on or after the effective dat…

43:15A-42.2 Inapplicability relative to certain transferred service credit. 12. The provisions of section 42 of P.L.1954, c.84 (C.43:15A-42) and section 43 of P.L.1954, c.84 (C.43:15A-43) as amended by P.L.2010, c.3, and section 11 of P.L.2010, c.3 (C.43:15A-42.1), concerning per…

43:15A-43 Public employees' disability retirement; definitions. 43. a. A member who has not attained age 65 shall, upon the application of the head of the department in which he is employed or upon his own application or the application of one acting in his behalf, be retired by …

43:15A-43.1 "Law enforcement officer." 3. As used in this section, "law enforcement officer" includes, but shall not be limited to, sheriff's officers and corrections officers. For purposes of subsection a. of section 43 of P.L.1954, c.84 (C.43:15A-43), permanent and total disabi…

43:15A-44. Annual examination of disability beneficiary; alteration of pension; refusal to be examined; reemployment; subsequent retirement a. Once each year the retirement system may, and upon his application shall, require any disability beneficiary who is under the age of 60 y…

43:15A-45 Allowance for ordinary disability retirement. 45. A member upon retirement for ordinary disability shall receive a retirement allowance, which shall consist of: a. An annuity which shall be the actuarial equivalent of his accumulated deductions together with regular int…

43:15A-45.1 Increase in retirement allowance under C.43:15A-45 and C.43:15A-50. 10. The retirement allowance of each retiree under section 45 of P.L.1954, c.84 (C.43:15A-45), or the retiree's beneficiary pursuant to section 50 of P.L.1954, c.84 (C.43:15A-50), on the effective dat…

43:15A-46 Allowance for retirement for accidental disability. 46. A member under 65 years of age upon retirement for accidental disability shall receive a retirement allowance which shall consist of: a. An annuity which shall be the actuarial equivalent of his accumulated deducti…

43:15A-46.1 Increase in retirement allowance under C.43:15A-46 and C.43:15A-50. 12. The retirement allowance of each retiree under section 46 of P.L.1954, c.84 (C.43:15A-46), or the retiree's beneficiary pursuant to section 50 of P.L.1954, c.84 (C.43:15A-50), on the effective dat…

43:15A-46.2 Payment of normal contribution for increased benefits for active members under C.43:15A-45 and C.43:15A-46. 13. The normal contribution for the increased benefits for active members under sections 45 and 46 of P.L.1954, c.84 (C.43:15A-45 and 43:15A-46) as amended by s…

43:15A-47 Retirement based on age. 47. a. A person who was a member before the effective date of P.L.2008, c.89 and has attained 60 years of age may retire on a service retirement allowance by filing with the retirement system a written application, duly attested, stating at whic…

43:15A-47.3 Volunteer services by certain retirees under PERS permitted. 1. The retirement of a member of the Public Employees' Retirement System, established pursuant to P.L.1954, c.84 (C.43:15A-1 et seq.), who (1) on the date of retirement has attained the service retirement ag…

43:15A-48 Retirement allowance for service. 48. A member, upon retirement for service, shall receive a retirement allowance consisting of: a. An annuity which shall be the actuarial equivalent of his accumulated deductions together with regular interest; and b. A pension in the a…

43:15A-49 Accidental death benefit. 49. a. Upon the death of a member in active service as a result of: (1) an accident met in the actual performance of duty at some definite time and place, or (2) service in the reserve component of the Armed Forces of the United States or the N…

43:15A-49.1 "Law enforcement officer." 4. As used in this section, "law enforcement officer" includes, but shall not be limited to, sheriff's officers and corrections officers. For purposes of paragraph (1) of subsection a. of section 49 of P.L.1954, c.84 (C.43:15A-49), a member …

43:15A-5. Disposition of funds, benefits, etc. The repeal of chapters 14 and 15 of Title 43 of the Revised Statutes of the State of New Jersey and all amendments and supplements thereto is subject to the following provisos: (a) Any person retired for service under any of the prov…

43:15A-50. Public employee pension options 50. At the time of retirement, a member shall receive benefits in a retirement allowance payable throughout life, or the member may, on retirement, elect to receive the actuarial equivalent of the member's retirement allowance, in a less…

43:15A-50.1. Member over 70 with 50 years of service; death prior to approval of application for retirement; retirement allowance Notwithstanding the provisions of section 50 of P.L.1954, c. 84 (C. 43:15A-50) or any other law, rule or regulation to the contrary, a member with at …

43:15A-50.2. Applicability of C.43:15A-50 4. Section 50 of P.L.1954, c.84 (C.43:15A-50) as amended by section 2 of P.L.1995, c.221 shall apply to a filing for retirement received by the retirement system on or after January 1, 1992, except it shall not apply in a situation in whi…

43:15A-50a. Public employee's election of lifetime pension Notwithstanding the provisions of P.L. 1954, c. 84 (C. 43:15A-1 et seq.) or any other law to the contrary, whenever a member of the Public Employees' Retirement System elects a retirement benefit which is payable for the …

43:15A-51. Monthly payments 51. A pension, an annuity or a retirement allowance granted under the provisions of this act shall be effective only on the first day of a month, shall be paid in equal monthly installments, and shall not be decreased, increased, revoked or repealed, e…

43:15A-53. Benefits under chapter exempt from taxation and process; exception; assignment of group insurance policy rights and benefits The right of a person to a pension, an annuity, or a retirement allowance, to the return of contributions, any benefit or right accrued or accru…

43:15A-54. Correction of errors; approval of application for prior service credit or credit for all previous service If any change or error results in an employee or beneficiary receiving from the retirement system more or less than he would have been entitled to receive, then on…

43:15A-55. Fraud against system a misdemeanor A person who knowingly makes a false statement, or falsifies or permits to be falsified any record of this retirement system, in an attempt to defraud the system as a result of such act shall be guilty of a misdemeanor. L.1954, c. 84,…

43:15A-56. Ineligibility of veterans for certain retirement benefits No public employee veteran eligible for membership in the Public Employees' Retirement System shall be eligible for, or receive, retirement benefits under R.S. 43:4-1, 43:4-2 and 43:4-3. L.1954, c. 84, p. 508, s…

43:15A-57. Additional death benefit coverage a. Each member who is a member on December 1, 1956 and each person who thereafter becomes a member prior to the effective date of this amendatory act, will be eligible to purchase the additional death benefit coverage hereinafter descr…

43:15A-57.1. Designation of beneficiary; form; filing; failure to designate; payment 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 retirement system. The member or retirant may, …

43:15A-57.2 Reemployment of retired former member. 27. a. Except as provided in subsections b., c., and d. of this section, if a former member of the State Employees' Retirement System or the retirement system, who has been granted a retirement allowance for any cause other than …

43:15A-57.3. Reactivation of retirement system account Notwithstanding the provisions of section 27 of P.L. 1966, c. 217 (C. 43:15A-57.2) or any other law to the contrary, the retirement system shall not reenroll a former veteran member with more than 20 years of service, all or …

43:15A-59.5. Repeals; effect The following acts and parts of acts are repealed, effective July 1, 1966: P.L.1954, c. 84, s. 59; P.L.1956, c. 219; P.L.1960, c. 124; and P.L.1962, c. 171. The repeal of the aforesaid section and acts shall not be construed to provide for any retroac…

43:15A-6 Definitions. 6. As used in this act: a. "Accumulated deductions" means the sum of all the amounts, deducted from the compensation of a member or contributed by or on behalf of the member, standing to the credit of the member's individual account in the annuity savings fu…

43:15A-6.1 Veteran status determined for retirement allowance. 5. The Commissioner of the Department of Veterans Affairs shall be responsible for determining whether any person seeking to be considered a "veteran" under section 6 of P.L.1954, c.84 (C.43:15A-6), for the purpose of…

43:15A-60. Contributions and credits of veteran members 60. a. Each public employee veteran member shall have returned to him his accumulated deductions as of January 2, 1955. All service rendered in office, position, or employment of this State or of a county, municipality, scho…

43:15A-60.2. Permission for member to cancel purchase of credit 6. If, following application by a member of the retirement system to purchase credit therein under any provision of P.L.1954, c.84 (C.43:15A-1 et seq.), as amended and supplemented, the member attains qualification a…

43:15A-61 Public employee veterans' pensions. 61. a. (Deleted by amendment, P.L.1995, c.332.) b. Any public employee veteran member in office, position or employment of this State or of a county, municipality, public agency, school district or board of education and who (1) shall…

43:15A-61.1. Veterans' retirement allowance 5. 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 section 61 of P.L.1954, …

43:15A-61.2 Increase of retirement allowance under subsection b. of C.43:15A-61 and C.43:15A-50. 15. The retirement allowance of each retiree under subsection b. of section 61 of P.L.1954, c.84 (C.43:15A-61), or the retiree's beneficiary pursuant to section 50 of P.L.1954, c.84 (…