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

43:15B-10. Consistency of plan with requirements of federal Internal Revenue Code 10. No agreement may be entered into between the employer and any employee for the deferral and deduction of any portion of current salary, pursuant to this act, until the named fiduciary determines…

43:15B-2. Amounts; determination by agreement The amounts of any such deferred salary shall be determined by agreement between the employer and the employee, subject to any limitations which the employer may establish. The total amount of the salary deferred pursuant hereto for a…

43:15B-3. Provisions of plan. 3. a. The plan shall provide that all money not needed for the immediate payment of benefits shall be invested by the employer in interest bearing securities in which savings banks of this State are authorized to invest their funds, or the employer s…

43:15B-4. Plan to be in addition to obligation under any other retirement system or benefit plan Any deferred compensation plan shall be in addition to the obligation of the employee under any other retirement system or benefit plan established pursuant to any other law of this S…

43:15B-5. Investment of deferred, deducted moneys; assets held in trust 5. a. All moneys which are deferred and deducted in accordance with the provisions of this act and the plan shall be invested in accord with the provisions of this act and the plan. The obligation of the empl…

43:15B-6. Unassignability of payments and rights No participating employee or beneficiary thereof shall have the right to commute, sell, assign or otherwise transfer or convey the rights to receive any payments deriving from participation in the plan and such payments and rights …

43:15B-7. Exclusion of deferred and deducted amount from computation of federal withholding taxes Any amount of the employee's salary that is deferred and deducted under this act and the plan shall continue to be included as regular compensation for all purposes, including pensio…

43:15B-8. Transfer of credits from employment by different employer Any employee who made contributions to a similar plan while employed in a state other than New Jersey or by an employer in New Jersey different from the current employer may transfer his credit from the previous …

43:15B-9. Transfer of credit from plan to similar plan of participant's new employer Any participant who changes jobs may transfer his credit from the plan pursuant to authorizing provisions which may be contained in the plan, provided the similar plan of the participant's new em…

43:15C-1 Defined Contribution Retirement Program; rules, regulations; terms defined. 1. There is hereby established in the Department of the Treasury a Defined Contribution Retirement Program. The program design shall be one that is permitted for governmental plans under the fede…

43:15C-10 Method of payment of death benefits. 10. Any group life insurance policy or policies shall provide that payment of any death benefits payable by the insurance company may be made in one sum directly to the beneficiary as hereinafter provided, in equal installments over …

43:15C-11 Facts requiring evidence of insurability. 11. Any person entitled to become a participant in the retirement program shall not be allowed any of the group life insurance and disability benefits if on the date of filing an application for participation the person is 60 or…

43:15C-12 Designation of death benefit beneficiary. 12. The designation of a death benefit beneficiary by a participant or retiree shall be made in writing on a form satisfactory to the Division of Pensions and Benefits and filed with the division. The participant or retiree may,…

43:15C-13 Disability benefit coverage. 13. The disability benefit coverage provided under a group policy or policies shall provide a monthly income if the participant becomes totally disabled from occupational or nonoccupational causes for a period of at least six consecutive mon…

43:15C-14 Amount of disability benefits; "Defined Contribution Retirement Program Disability Premium Fund." 14. The disability benefit provided under a group policy or policies shall be in an amount equal to 60% of the participant's base monthly salary, reduced by periodic benefi…

43:15C-15 Credit offered to policyholder by insurance company; additional coverage; health care coverage. 15. Notwithstanding any other provision of law, an insurance company or companies issuing such policy or policies may credit the policyholder either directly or in the form o…

43:15C-2 Eligibility for participation in the Defined Contribution Retirement Program. 2. a. The following persons shall be eligible and shall participate in the Defined Contribution Retirement Program: (1) A person who commences service on or after the effective date of this sec…

43:15C-3 Employee, employer contribution. 3. a. The employer shall reduce the compensation of each participant in the Defined Contribution Retirement Program and pay over to the plan provider for the benefit of the participant an employee contribution for the retirement benefit c…

43:15C-4 Defined Contribution Retirement Program Board. 4. There is established in, but not of, the Division of Pensions and Benefits in the Department of the Treasury the Defined Contribution Retirement Program Board, that shall consist of the Director of the Division of Pension…

43:15C-5 Allocation of contributions by participants. 5. Participants in the Defined Contribution Retirement Program shall be allowed to allocate their own contributions and the contributions of their employer into investment alternatives as determined by the Defined Contribution…

43:15C-5.1 Receipt of distributions prior to severance from employment. 11. Notwithstanding the provisions of section 1 of P.L.2007, c.92 (C.43:15C-1), N.J.A.C. 17:6-10.2, or any other law or regulation to the contrary, a participant in the defined contribution retirement program…

43:15C-6 Provision of insurance by retirement program. 6. a. The retirement program shall, under a group contract or contracts, provide life insurance and provide the option of obtaining disability insurance benefits for all participants in the retirement program on a basis to be…

43:15C-7 Insurance benefits under group contract. 7. The benefit under a group contract or contracts providing life insurance shall be in an amount equal to one and one-half the base annual salary of the participant in the retirement program, except that in the event of death aft…

43:15C-8 Conversion privilege provided through group life insurance policies. 8. Any group life insurance 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 pri…

43:15C-9 Payment of death benefits. 9. Death benefits under the group life insurance 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 comp…

43:16-1. Retirement for age and service 43:16-1. a. In all municipalities any active member of a police department or of a paid or part-paid fire department or of a county police department including active members of the paid or part-paid fire department of any fire district loc…

43:16-1.1. Executive officers; retention in service until 70 years old Notwithstanding the provisions of section 43:16-1 of the Revised Statutes, any member who holds office, position, or employment as chief of a police department or as chief of a paid or part-paid fire departmen…

43:16-1.2. Effective date and payment of pension 5. A pension granted under the provisions of the act, to which this act is amendatory and supplementary, shall be effective only on the first day of a month, shall be paid in equal monthly installments, and shall not be decreased, …

43:16-10. Effective date This subtitle shall be effective in every municipality in which, on April fifteenth, one thousand nine hundred and twenty, a fund for the retirement or pensioning of policemen or firemen or either was in effect, and in all other municipalities only upon i…

43:16-12. Determining years of service for firemen as members of pension fund In any municipality in which this subtitle has taken effect under section 43:16-10 of this title, if before this subtitle became effective a paid fire department had not been regularly constituted and o…

43:16-13. Member with twenty years' service not to be deprived of pension privileges; fine, reprimand or discharge No member of the police or fire department in any municipality or county in this State who shall have served honorably in any such department for a period of twenty …

43:16-17 Definitions. 12. The following words and phrases as used in this act, unless a different meaning is plainly required by the context, shall have the following meanings: (1) "Member" shall mean a person who on July 1, 1944, was a member of a municipal police department or …

43:16-17.2. Service in administrative or supervisory capacity; service as an active member Service with a municipal police or fire department in an appointive administrative or supervisory capacity or any combination thereof by any person who immediately prior to such service ser…

43:16-18. Effective date of act This act shall take effect July first, one thousand nine hundred and forty-four. L.1944, c. 253, p. 833, s. 14.

43:16-19 Waiver of payment. 1. Any member or any beneficiary who has been or, in the future, may be retired, or receive a pension, benefit, or retirement allowance, including an annuity, pursuant to the provisions of the act to which this act is a supplement, may, by filing writt…

43:16-2. Retirement for disability Any member of such police or paid or part-paid fire department who shall have received permanent disability as a direct result of a traumatic event occurring while performing his regular or assigned duties shall be retired upon an accidental dis…

43:16-2.1. Applicability of increases The increases under this act shall apply only to pensions payable on account of retirements or deaths occurring after January 11, 1956; provided, however, that such increases shall be applicable only to payments becoming due after the month i…

43:16-20 Reduced payments. 2. Upon the receipt of such a waiver, and until the same is withdrawn, altered, or revoked by a subsequent written request, similarly filed, the Division of Pensions and Benefits shall pay a reduced pension, benefit, retirement allowance, or annuity, as…

43:16-21. No refund or credit of waived moneys Upon withdrawal, alteration, or revocation of such a waiver the member or beneficiary shall not be entitled to a refund or credit for such moneys as shall have been waived during the period such waiver has been in effect. L.1955, c. …

43:16-3. Pension to dependents (a) Upon the receipt of proper proofs of the death of a member who shall not have died while on duty, there shall be paid to the member's surviving spouse a pension of 50% of the member's average salary, for the use of herself or himself, to continu…

43:16-4. Pension to dependents for loss of life while on duty (a) Upon the receipt of proper proofs of the death of a member who shall have lost his life while on duty, there shall be paid to his widow or dependent widower a pension of 70% of the member's average salary, for the …

43:16-4c. Pension to widow who married member after 50 years of age The widow of any member who died prior to June 15, 1965, shall receive a pension in the amount prescribed by the act to which this act is a supplement if she is otherwise eligible for such pension notwithstanding…

43:16-5. Consolidated Police and Firemen's Pension Fund 43:16-5. For the purpose of paying the pensions provided by this chapter, all pension funds heretofore created and in existence pursuant to the provisions of an act entitled "An act providing for the retirement of policemen …

43:16-6.2 Actuarial evaluation of fund, legal advice. 7. The Division of Pensions and Benefits in the Department of the Treasury shall keep, in convenient form, such data as may be necessary for the actuarial evaluation of the fund committed to its charge and to serve as a record…

43:16-7 Division designated trustee of funds. 43:16-7. The Division of Pensions and Benefits in the Department of the Treasury shall be the trustee of all the funds established by this act. The division shall have the general responsibility for the proper operation of the pension…

43:16-7.1. Local commissions to transfer money and assets to state commission Promptly after it has organized, the commission shall give notice in writing not later than September first, one thousand nine hundred and fifty-two, to the pension commission of each municipality and c…