reglab/housing_qa huggingface dataset:
NJ Rev Stat § 43:6A-20 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-20 - Death of disability retirant; payments to beneficiary

43:6A-20. Death of disability retirant; payments to beneficiary  Upon the receipt of proper proofs of the death of a member who has retired on a disability pension or retirement allowance, there shall be paid to the member's beneficiary, an amount equal to one and one-half times the final salary received by the member if such death occurs before the member shall have attained 60 years of age but if such death occurs thereafter, an amount equal to one-fourth of the final salary received by the member. L.1973, c. 140, s. 20, eff. May 22, 1973. Amended by L.1981, c. 470, s. 13, eff. Jan. 19, 1982.
NJ Rev Stat § 43:6A-21 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-21 - Group life insurance coverage; authorization to purchase; benefits in lieu of death benefits

43:6A-21. Group life insurance coverage; authorization to purchase; benefits in lieu of death benefits  The State Treasurer is hereby authorized and permitted to purchase from one or more life insurance companies, as determined by him, group life insurance coverage to provide for the death benefits specified in sections 17 b., 19 and 20. Such group life insurance coverage may be provided under one or more policies issued to the State Treasurer specifically for this purpose or, in the discretion of the State Treasurer, under one or more policies issued to the State Treasurer which provide group life insurance coverage for members of one or more other retirement systems of the State of New Jersey. Whenever such policy or policies of group insurance shall be in effect, the benefits payable thereunder shall be in lieu of the above mentioned death benefits provided by said sections. Any dividend or retrospective rate credit allowed by an insurance company shall be credited in an equitable manner to the special insurance funds from which premiums are paid. L.1973, c. 140, s. 21, eff. May 22, 1973.
NJ Rev Stat § 43:6A-22 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-22 - Qualifications for life insurance company

43:6A-22. Qualifications for life insurance company  Any life insurance company must meet the following requirements in order to qualify under section 21: a. be licensed under the laws of the State of New Jersey to transact life and accidental death insurance; and b. the amount of its group life insurance in the State of New Jersey shall at the time said insurance is to be purchased equal at least 1% of the total amount of such group life insurance in the State of New Jersey in all life insurance companies. L.1973, c. 140, s. 22, eff. May 22, 1973.
NJ Rev Stat § 43:6A-23 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-23 - Option on purchase of group life insurance coverage for death benefit provisions

43:6A-23. Option on purchase of group life insurance coverage for death benefit provisions  The State Treasurer may, in his discretion, determine to purchase group life insurance coverage for the death benefit provisions as provided in sections 17 b., 19 and 20, or may determine not to purchase any group insurance coverage for the death benefit provisions heretofore mentioned. L.1973, c. 140, s. 23, eff. May 22, 1973.
NJ Rev Stat § 43:6A-24 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-24 - Group life insurance coverage; payment of premiums; group insurance premium fund

43:6A-24. Group life insurance coverage; payment of premiums; group insurance premium fund  In the event the State Treasurer shall determine to purchase group insurance coverage for the death benefits, premiums for the same shall be paid from a special fund, hereby created, called the "Group Insurance Premium Fund." The State Treasurer shall estimate annually the amount which will be required for premiums for such benefits for the ensuing fiscal year. The State shall pay over to the State Treasurer the amount so required who shall deposit it in the Group Insurance Premium Fund. During the period such group insurance policy or policies are in effect the State Treasurer shall in no way commingle moneys in this fund with any pension fund established by this act. L.1973, c. 140, s. 24, eff. May 22, 1973.
NJ Rev Stat § 43:6A-25 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-25 - Terms of policy

43:6A-25. Terms of policy  Any such group policy or policies shall include, with respect to any insurance terminating or reducing because an insured person has ceased to be in active service or has retired, the conversion privilege available upon termination of employment as prescribed by the law relating to group life insurance; and shall also include, with respect to insurance terminating because of termination of the group policy resulting from a termination of all death benefits established under sections 17b., 19 and 20, the conversion privilege available upon termination of the group policy as prescribed by such law. Any such group policy or policies shall also provide that if an insured person dies during the 31-day period during which he would be entitled to exercise the conversion privilege, the amount of insurance with respect to which he could have exercised the conversion privilege shall be paid as a claim under the group policy. If any member who has exercised the conversion privilege under the group policy or policies again becomes a member of the retirement system, and the individual policy obtained pursuant to the conversion privilege is still in force, he shall not again be eligible for any of the death benefits provided by sections 17 b., 19 and 20, unless he furnishes satisfactory evidence of insurability. When benefits payable upon the death of a member following retirement are determined as though he were an active member at the time of his death, the death benefit payable under the group policy or policies together with the amount of insurance paid under any individual policy obtained under the conversion privilege, shall in no event exceed the amount of insurance for which the member was insured under the group policy or policies immediately prior to the date the right of conversion arose. L.1973, c. 140, s. 25, eff. May 22, 1973.
NJ Rev Stat § 43:6A-26 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-26 - Payment of benefits

43:6A-26. Payment of benefits  Benefits under such group policy or policies shall be paid by the insurance company to such person, if living, as the insured person shall have nominated by written designation duly executed and filed with the insurance company through the policyholder, otherwise to the executors or administrators of the insured person's estate. An insured person may file with the insurance company through the policyholder and alter from time to time during his lifetime, as desired, a duly attested written nomination of his payee for the death benefit. L.1973, c. 140, s. 26, eff. May 22, 1973.
NJ Rev Stat § 43:6A-27 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-27 - Settlement options

43:6A-27. Settlement options  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 years or as a life annuity or in such other manner as may be made available by the insurance company. An insured person may make arrangements for settlement, and may alter from time to time during his lifetime any arrangement previously made, by making written request to the insurance company through the policyholder. Upon the death of an insured person, a beneficiary to whom a benefit is payable in one sum by the insurance company may likewise arrange for a settlement as described above. If an insured person's or beneficiary's request for settlement of any death benefit in equal installments over a period of years or as a life annuity pursuant to the foregoing is approved by the policyholder, the amount of such installment or such life annuity, as the case may be, shall be determined on the basis of such applicable mortality tables as shall have been adopted by the retirement system and are in effect at the death of the insured person. Any arrangement for payment under the group policy to a beneficiary shall be in lieu of that provided by sections 17 b., 19 and 20. L.1973, c. 140, s. 27, eff. May 22, 1973.
NJ Rev Stat § 43:6A-28 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-28 - Reduction of premiums for non payment of commissions; authorization

43:6A-28. Reduction of premiums for non payment of commissions; authorization  Notwithstanding any other provision of law, any insurance company or companies issuing such policy or policies may credit the policyholder, in the form of reduced premiums, with savings by said company or companies in the event that no brokerage commission or commissions are paid by said company or companies on the issuance of such policy or policies. L.1973, c. 140, s. 28, eff. May 22, 1973.
NJ Rev Stat § 43:6A-30 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-30 - Trustee of funds; custodian of funds; administration of program

43:6A-30. Trustee of funds; custodian of funds; administration of program  30.a. The State House Commission shall be and is hereby constituted the trustee of all the various funds established by this act except the group insurance premium fund; provided, however, that all functions, powers, and duties relating to the investment or reinvestment of moneys of, and purchase, sale, or exchange of any investments or securities, of or for any fund established under this act, shall be exercised and performed by the Director of the Division of Investment in accordance with the provisions of P.L.1950, c.270 (C.52:18A-79 et seq.).  b. The secretary of the commission shall determine from time to time the cash requirements of the various funds established by this act and the amount available for investment, all of which shall be certified to the Director of the Division of Investment.  c. The Treasurer of the State of New Jersey shall be the custodian of the several funds. All payments from said funds shall be made by him only upon vouchers signed by the secretary. A duly attested copy of the resolution of the State House Commission bearing on its face the specimen signature of the secretary shall be filed with the treasurer as his authority for making payments upon such vouchers.  d. The administration of the program shall be performed by the personnel of the Division of Pensions of the State Department of the Treasury and the costs of administration shall be borne by the State.  L.1973,c.140,s.30.
NJ Rev Stat § 43:6A-31 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-31 - Actuarial investigation and valuation; adoption of tables for mortality, service, etc.

43:6A-31. Actuarial investigation and valuation; adoption of tables for mortality, service, etc.  The actuary shall recommend such data as shall be necessary for actuarial valuation of the various funds created by this act. Once in every 3-year period the actuary shall make an actuarial investigation into the mortality, service and salary experience of the members and beneficiaries and shall make a valuation of the assets and liabilities of the various funds created by this act. Upon the basis of such investigation and valuation, with the advice of the actuary, the commission shall adopt for the retirement system such mortality, service and other tables as shall be deemed necessary. L.1973, c. 140, s. 31, eff. May 22, 1973.
NJ Rev Stat § 43:6A-32 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-32 - Contingent reserve, annuity savings and retirement reserve funds; establishment

43:6A-32. Contingent reserve, annuity savings and retirement reserve funds; establishment  Under this act there shall be established a contingent reserve fund, an annuity savings fund, and a retirement reserve fund. L.1973, c. 140, s. 32, eff. May 22, 1973. Amended by L.1981, c. 470, s. 14, eff. Jan. 19, 1982.
NJ Rev Stat § 43:6A-33.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-33.1 - Payment of pension adjustment benefits, funding

43:6A-33.1. Payment of pension adjustment benefits, funding  10. Pension adjustment benefits for members and beneficiaries of the Judicial Retirement System 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 shall be funded as employer obligations by the same method provided by law for the funding of employer obligations for the retirement benefits provided by the retirement system beginning with valuation year 1993.  L.1992,c.41,s.10; amended 1994,c.62,s.6.
NJ Rev Stat § 43:6A-34 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-34 - Retirement reserve fund; source of funds for payment of pensions

43:6A-34. Retirement reserve fund; source of funds for payment of pensions  The retirement reserve fund shall be the fund from which all pensions and retirement allowances shall be paid. Upon the retirement of the member his accumulated deductions together with regular interest shall be transferred to the retirement reserve fund from the annuity savings fund. The reserve needed to produce the pension shall be transferred from the contingent reserve fund. If the pension of a member who has been retired is subsequently canceled, the appropriate reserve shall be transferred to the contingent reserve fund. If the retirement allowance of a member who has been retired is subsequently cancelled, the appropriate reserve shall be transferred to the annuity savings fund and the contingent reserve fund. Any surplus or deficit developing in the retirement reserve fund shall be adjusted from time to time by transfer to or from the contingent reserve fund by appropriate action of the retirement system upon the advice of the actuary. L.1973, c. 140, s. 34, eff. May 22, 1973. Amended by L.1981, c. 470, s. 15, eff. Jan. 19, 1982.
NJ Rev Stat § 43:6A-34.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-34.1 - Annuity savings fund, payroll deductions.

43:6A-34.1 Annuity savings fund, payroll deductions.  26. a. The annuity savings fund shall be the fund to which shall be credited aggregate contributions made by members or on their behalf to provide for their allowances. The aggregate contributions of a member withdrawn by him or paid to his estate or his designated beneficiary in the event of death as provided by this amendatory and supplementary act shall be paid from the annuity savings fund. Upon the retirement of a member where the aggregate contributions of the member are to be provided in the form of an annuity, the aggregate contributions of the member shall be transferred from the annuity savings fund to the retirement reserve fund. b. There shall be deducted from the payroll of each member of the system 3% of the amount of any difference between the salary on or after January 19, 1982 for any judicial position held by the member and the salary for that position on January 18, 1982, except that there shall be deducted from the payroll of each new member initially enrolled on or after January 1, 1996, in the retirement system, 3% of the salary for the judicial position held by the member. There shall be deducted from the payroll of each member of the system on and after the effective date of P.L.2011, c.78 an additional 9% of the salary for the judicial position held by the member phased-in in equal increments over a period of seven years. Every judge of the several courts to whom this amendatory and supplementary act applies shall be deemed to consent and agree to any deduction from his compensation required by this act and to all other provisions of this act. Notwithstanding any other law, rule or regulation affecting the salary, pay, compensation, other perquisites, or tenure of a person to whom this amendatory and supplementary act applies, or shall apply, and notwithstanding that the minimum salary, pay, or compensation or other perquisites provided by law for him shall be reduced thereby, payment, less such deductions, shall be a full and complete discharge and acquittance of all claims and demands for service rendered by him during the period covered by such payment. L.1981, c.470, s.26; amended 1995, c.424, s.4; 2011, c.78, s.9.
NJ Rev Stat § 43:6A-34.2 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-34.2 - State house commission; interest on balance in annuity savings, contingent reserve and retirement reserve funds

43:6A-34.2. State house commission; interest on balance in annuity savings, contingent reserve and retirement reserve funds  The State House Commission at the end of each fiscal year shall allow interest on the balance of the annuity savings fund, contingent reserve fund and the retirement reserve fund as of the beginning of said fiscal year at the regular interest rate applicable thereto to cover the interest creditable to the respective funds for the year. The amount so allowed shall be due and payable to the funds and shall be credited annually thereto by the commission. L.1981, c. 470, s. 27, eff. Jan. 19, 1982.
NJ Rev Stat § 43:6A-34.3 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-34.3 - Borrowing by members from retirement system, interest rates.

43:6A-34.3 Borrowing by members from retirement system, interest rates.  1. Notwithstanding any provision to the contrary, any member who has at least three years of service to the member's credit for which the member has contributed as a member may borrow from the retirement system, an amount equal to not more than 50% of the amount of the member's accumulated deductions, but not less than $50.00; provided, that the amount so borrowed, together with interest thereon, can be repaid by additional deductions from compensation, not in excess of 25% of the member's compensation, made at the same time compensation is paid to the member. The amount so borrowed, together with interest on any unpaid balance thereof, shall be repaid to the retirement system in equal installments by deduction from the compensation of the member at the time the compensation is paid or in such lump sum amount to repay the balance of the loan but such installments shall be at least equal to the member's rate of contribution to the retirement system and at least sufficient to repay the amount borrowed with interest thereon. Not more than two loans may be granted to any member in any calendar year. Notwithstanding any other law affecting the salary or compensation of any person or persons to whom this act applies or shall apply, the additional deductions required to repay the loan shall be made. The rate of interest for a loan requested by a member prior to the effective date of P.L.2007, c.92 (C.43:15C-1 et al.) shall be 4% per annum on any unpaid balance thereof. For a loan requested after the effective date of that act, the rate of interest per annum shall be a commercially reasonable rate as required by the Internal Revenue Code to be determined by the State Treasurer on that effective date, and on January 1 of each calendar year thereafter. An administrative fee in an amount set by the State Treasurer for each calendar year may be charged for any loan requested after the effective date of P.L.2007, c.92 (C.43:15C-1 et al.). Loans shall be made to a member from the member's accumulated deductions. The interest earned on such loans shall be treated in the same manner as interest earned from investments of the retirement system. L.1997, c.25, s.1; amended 2007, c.92, s.34.
NJ Rev Stat § 43:6A-34.4 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-34.4 - Repayment of loans after retirement of members of JRS.

43:6A-34.4 Repayment of loans after retirement of members of JRS.  2. In the case of any member who retires without repaying the full amount so borrowed, the Division of Pensions and Benefits shall deduct from the retirement benefit payments the same monthly amount which was deducted from the compensation of the member immediately preceding retirement until the balance of the amount borrowed together with the interest is repaid. In the case of a pensioner who dies before the outstanding balance of the loan and interest thereon has been recovered, the remaining balance shall be repaid from the proceeds of any other benefits payable on the account of the pensioner either in the form of monthly payments due to the pensioner's beneficiaries or in the form of lump sum payments payable for pension or group life insurance. L.1997, c.25, s.2; amended 1999, c.132, s.4; 2007, c.92, s.35.
NJ Rev Stat § 43:6A-35 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-35 - Retirement system; interest on balance in contingent reserve, annuity savings and retirement reserve funds

43:6A-35. Retirement system; interest on balance in contingent reserve, annuity savings and retirement reserve funds  The retirement system at the end of each fiscal year shall allow interest on the balance of the contingent reserve fund, the annuity savings fund, and the retirement reserve fund as of the beginning of said fiscal year at the regular interest rate applicable thereto to cover the interest creditable to the respective funds for the year. The amount so allowed shall be due and payable to said funds and shall be credited annually. L.1973, c. 140, s. 35, eff. May 22, 1973. Amended by L.1981, c. 470, s. 16, eff. Jan. 19, 1982.
NJ Rev Stat § 43:6A-36 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:6A-36 - Obligations of act as obligations of state; budget and appropriation of amounts to meet obligations

43:6A-36. Obligations of act as obligations of state; budget and appropriation of amounts to meet obligations  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 pensions, retirement allowances, and other benefits granted by the State House Commission under the provisions of this act are hereby made obligations of the State. All income, interest and dividends derived from deposits and investments authorized by this act shall be used for the payment of these obligations of the State. Upon the basis of such actuarial determination and appraisal provided for in this act an itemized estimate of the amounts necessary to be appropriated by the State to the various funds to provide for the payment in full during the ensuing fiscal year of the obligations of the State accruing during that year shall be submitted by the retirement system to the Governor so that it may be included in the budget request submitted by the Governor to the Legislature. The Legislature shall make an appropriation sufficient to provide for such obligations of the State. The amounts so appropriated shall be paid into the contingent reserve fund. L.1973, c. 140, s. 36, eff. May 22, 1973. Amended by L.1981, c. 470, s. 17, eff. Jan. 19, 1982.