reglab/housing_qa huggingface dataset:
NJ Rev Stat § 43:15A-25.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-25.1 - Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application

43:15A-25.1. Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application  28. a. If any member of the retirement system receives periodic benefits payable under the Workers' Compensation Law during the course of his active service, in lieu of his normal compensation, his regular salary deductions shall be paid to the retirement system by his employer. Such payments shall be computed, in accordance with section 25 of P.L.1954, c.84 (C.43:15A-25), at the rate of contribution on the base salary subject to the retirement system, just prior to the receipt of the workers' compensation benefits. The moneys paid by the employer shall be credited to the member's account in the annuity savings fund and shall be treated as employee contributions for all purposes. The employer will terminate the payment of these moneys when the periodic benefits payable under the Workers' Compensation Law are terminated or when the member retires. The member for whom the employer is making such payments, will be considered as if he were in the active service and shall be permitted to continue to make contributions to purchase the additional death benefit coverage provided by section 57 of P.L.1954, c.84 (C.43:15A-57). b. An application for retirement benefits may be approved by the board of trustees while the member, applying for such benefits, is in receipt of periodic benefits under the Workers' Compensation Law. If a retirant receiving an accidental disability retirement allowance becomes a recipient of periodic benefits under the workers' compensation law after the date of retirement, the pension portion of the retirement allowance payable to the retirant shall be reduced, during the period of the payment of the periodic benefits, dollar-for-dollar in the amount of the periodic benefits received after the date of retirement, subject to the provisions of section 64 of P.L.1954, c.84 (C.43:15A-64). The reduction provided for herein shall not affect the retirant's pension adjustment benefits or survivor benefits that may be payable upon the death of the retirant. If an accidental disability retirant receives a retirement allowance without reduction and periodic benefits under the workers' compensation law for any period of time after the date of retirement, the retirant shall repay to the retirement system the amount of the pension portion of the retirement allowance which should have been subject to reduction under this subsection. The repayment may be in the form of a lump sum payment or scheduled as deductions from the retirant's retirement allowance and pension adjustment benefits. If the retirant dies before full repayment of the amount required, the remaining balance shall be deducted from any death benefits payable on behalf of the retirant.L.1966,c.217,s.28; amended 1971,c.213,s.46; 1995,c.369,s.2.
NJ Rev Stat § 43:15A-25.2 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-25.2 - PERS members, eligibility based on one position.

43:15A-25.2 PERS members, eligibility based on one position.  28. 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 Public Employees' Retirement System and becomes employed in more than one office, position, or employment covered by the retirement system or commences service in a covered office, position, or employment with more than one employer shall be eligible for membership in the retirement system based upon only one of the offices, positions, or employments held concurrently. In the case of a person who holds more than one office, position, or employment covered by the retirement system, the retirement system shall designate the position providing the higher or highest compensation for the person with such concurrent positions as the basis for eligibility for membership and the compensation base for contributions and pension calculations. b. Contributions shall be deducted only from the member's compensation for the office, position, or employment designated pursuant to subsection a. of this section and shall be credited to the member's single account established pursuant to section 25 of P.L.1954, c.84 (C.43:15A-25), or in the case of an eligible member of the Legislature, the legislative account established pursuant to section 2 of P.L.1972, c.167 (C.43:15A-136). The designation by the retirement system of one office, position or employment upon which membership in the retirement system shall be based shall be irrevocable as between or among the offices, positions, or employments held at the time the designation is made as long as the designated position is the one with the higher or highest compensation. A member who leaves a designated office, position, or employment or acquires a different or additional office, position, or employment, may receive a new designation by the retirement system from among the offices, positions, or employments then held. Service in an office, position, or employment other than the one designated shall not be deemed creditable service for the purposes of the retirement system. c. The provisions of subsections a. and b. of this section shall not apply to a person who, on the effective date of P.L.2010, c.1, is a member of the retirement system and holds more than one office, position, or employment covered by the retirement system with one or more employers, while the member continues to hold without a break in service more than one of those offices, positions, or employments. Any additional office, position, or employment acquired by the member shall not be deemed creditable service for the purposes of the retirement system and no designation for that member shall be made until only one of the offices, positions, or employments held on the effective date remains. L.2010, c.1, s.28.
NJ Rev Stat § 43:15A-26 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-26 - Excess refundable; shortage deducted

43:15A-26. Excess refundable; shortage deducted  Any contributions made by a member of the former "State Employees' Retirement System" prior to June 30, 1953, which are in excess of those required shall be refundable with regular interest to the member on demand or used at retirement to provide an annuity of equivalent actuarial value which shall be in addition to his regular retirement allowance. The actuarial equivalent of any shortage in required contributions at the time of retirement on account of misstatement of age, leave of absence, or clerical error, shall be deducted from the retirement allowance otherwise payable. L.1954, c. 84, p. 491, s. 26.
NJ Rev Stat § 43:15A-27 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-27 - Retirement reserve fund

43:15A-27. Retirement reserve fund  The retirement reserve fund shall be the fund from which all retirement allowances shall be paid. Upon the retirement of a 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 balance of the retirement allowance shall be transferred from the contingent reserve fund. If the retirement allowance of a member who has been retired is subsequently canceled, 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.1954, c. 84, p. 491, s. 27. Amended by L.1955, c. 261, p. 960, s. 6; L.1971, c. 213, s. 11, eff. June 17, 1971.
NJ Rev Stat § 43:15A-28 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-28 - Special reserve fund

43:15A-28. 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 33 of this act shall be transferred. No additional amounts shall be credited to the special reserve fund at any time when the total accumulations in such fund shall equal 1% of the book value of the investments of the retirement system. In this event, any such excess shall be credited to the contingent reserve fund. All losses from the sale of securities shall be charged against the special reserve fund. The special reserve fund shall be considered for valuation purposes by the actuary as an asset of the retirement system. L.1954, c. 84, p. 492, s. 28. Amended by L.1963, c. 51, s. 2; L.1971, c. 213, s. 43, eff. June 17, 1971.
NJ Rev Stat § 43:15A-29 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-29 - Relation of new employees to fund

43:15A-29. Relation of new employees to fund  Upon the employment of a person to whom this act may apply, his employer shall inform him of his duties and obligations under this act as a condition of his employment. L.1954, c. 84, p. 492, s. 29.
NJ Rev Stat § 43:15A-30 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-30 - Deductions certified to fund

43:15A-30. Deductions certified to fund  In accordance with the rate of contribution and the extra salary deductions certified by the retirement system, each department and each branch of State service not within a department shall certify to the State Treasurer the contribution and extra deductions to be made for the retirement system. The State Treasurer shall pay each of the amounts so deducted to the retirement system, and he shall transfer to the retirement system monthly or at such interval as the system designates a detailed statement of all amounts so paid. The retirement system shall cause each of the amounts so deducted to be credited to the individual account of the member from whose compensation the deduction was made. L.1954, c. 84, p. 492, s. 30. Amended by L.1971, c. 213, s. 12, eff. June 17, 1971.
NJ Rev Stat § 43:15A-31 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-31 - Records kept by State departments

43:15A-31. Records kept by State departments  Each State department and branch of the state service not included in a department shall keep such records and, from time to time, furnish such information as the retirement system may require. L.1954, c. 84, p. 492, s. 31. Amended by L.1971, c. 213, s. 13, eff. June 17, 1971.
NJ Rev Stat § 43:15A-32 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-32 - Management of funds.

43:15A-32 Management of funds.  32. The board of trustees shall be and are hereby constituted trustees of the various funds and accounts established by this act; 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 or account established under this act, shall be exercised and performed by the Director of the Division of Investment in accordance with the provisions of chapter 270, P.L.1950, as amended and supplemented. The secretary of the board of trustees shall determine from time to time the cash requirements of the various funds and accounts established by this act and the amount available for investment, all of which shall be certified to the Director of the Division of Investment. The members of the finance committee of the board of trustees shall be appointed at or after July 1 of each calendar year by the chairman of the board of trustees to serve through June 30 of the ensuing calendar year and until their successors are appointed. The finance committee of the board of trustees shall consist of five members of the board of trustees, one of whom shall be the State Treasurer, and one of whom shall be the member designated to serve on the State Investment Council. At least three members of the finance committee shall be members of the board of trustees who have been elected by members of the system. A quorum of the finance committee shall consist of three members thereof. An elected member of the board of trustees to be designated by a majority vote thereof shall serve on the State Investment Council as a representative of said board of trustees, for a term of three years and until a successor is designated and qualified. L.1954, c.84, s.32; amended 1954, c.244, s.4; 1955, c.261, s.7; 1970, c.57, s.3; 2011, c.78, s.30.
NJ Rev Stat § 43:15A-33 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33 - Interest on fund balances.

43:15A-33 Interest on fund balances.  33. The board of trustees at the end of each fiscal year shall allow interest on the balance of the annuity savings fund, contingent reserve fund, the retirement reserve fund, benefit enhancement fund and the members' death benefit 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 thereto by the board. L.1954,c.84,s.33; amended 1954, c.244, s.5; 2001, c.133, s.10.
NJ Rev Stat § 43:15A-33.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.1 - Investment in New Jersey realty; erection of buildings and structures; lease or sale to state

43:15A-33.1. Investment in New Jersey realty; erection of buildings and structures; lease or sale to state  The Director of the Division of Investment in the Department of the Treasury, in addition to other investments authorized by law, shall have authority, subject to the approval and acceptance by the board of trustees of the Public Employees' Retirement System, to invest in and acquire real property in the State of New Jersey on behalf of and in the name of the Public Employees' Retirement System, and to erect buildings and structures and make other improvements thereon, and to rent, lease, sell and dispose of the same, said lands, buildings, structures and improvements to be initially rented to the State of New Jersey for its use in accordance with the provisions of this act. L.1960, c. 44, p. 178, s. 1.
NJ Rev Stat § 43:15A-33.2 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.2 - Total authorized investment

43:15A-33.2. Total authorized investment  The total investment authorized pursuant to this act shall not exceed 5% of the book value of the total investments of such fund at the time of the making of the investment. L.1960, c. 44, p. 178, s. 2. Amended by L.1968, c. 468, s. 1, eff. March 4, 1969.
NJ Rev Stat § 43:15A-33.3 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.3 - Investment as asset of fund

43:15A-33.3. Investment as asset of fund  Any real estate investment made pursuant to this act shall at all times during its ownership by the fund be carried as an asset of the fund. L.1960, c. 44, p. 178, s. 3.
NJ Rev Stat § 43:15A-33.4 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.4 - Rental or lease terms; purpose of section

43:15A-33.4. Rental or lease terms; purpose of section  If the property is rented or leased to the State, it shall be on terms calling for level periodic rental payments, not more than 1 year apart, in such amounts as will amortize the total actual cost of the investment, including cost of land, construction, improvement and supervision of construction, over a period of 20 years from the beginning of the term of its first rental, together with income to be derived therefrom for the benefit of the fund at such rate not in excess of 6% per annum, as shall be fixed by the Director of the Division of Investment and approved by the board of trustees, on the depreciated value of the asset which shall be its total actual cost to the fund less a depreciation allowance equal in amount to the aggregate sums received toward amortization of the investment. Such portion of the rentals as shall exceed the amounts received toward amortization shall be treated as investment income. It is the purpose of this section to provide for the accounting basis upon which the real property investment shall be carried and depreciated and for the treatment, as between capital and income, of the amounts received for the use of the property by way of rental, in order to maintain the integrity and actuarial soundness of the funds established by the "Public Employees' Retirement-Social Security Integration Act" (P.L.1954, c. 84). L.1960, c. 44, p. 178, s. 4. Amended by L.1968, c. 468, s. 2, eff. March 4, 1969.
NJ Rev Stat § 43:15A-33.5 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.5 - Sale of realty to state during occupancy as tenant; purchase price; credits

43:15A-33.5. Sale of realty to state during occupancy as tenant; purchase price; credits  Should such real estate investment be sold to the State during its occupancy as tenant, the board of trustees of the fund shall accept, in full payment therefor, as well as for any State lands theretofore conveyed to it in connection therewith, the total actual cost thereof. In the event that any sums shall have been paid to the fund toward amortization of the investment, the aggregate amount thereof at the time of closing of title shall be credited against the purchase price. L.1960, c. 44, p. 179, s. 5.
NJ Rev Stat § 43:15A-33.6 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.6 - Payment of costs and expenses by state for operation, maintenance, repair, etc.; capital improvements

43:15A-33.6. Payment of costs and expenses by state for operation, maintenance, repair, etc.; capital improvements  Any rental arrangement or lease to the State for the use of such real property shall provide that all costs and expenses for the operation, maintenance, repair and management of the real property shall be paid for by the State, as tenant, at its sole cost and expense, in addition to the level rental payments; but this shall not preclude the making of enlargements, betterments or other capital improvements on behalf of the fund as a further investment or investments, in like manner and subject to the same requirements and restrictions as are applicable to the initial investment in such real property made under this act. L.1960, c. 44, p. 179, s. 6.
NJ Rev Stat § 43:15A-33.7 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.7 - Authority to execute and deliver leases, contracts or agreements

43:15A-33.7. Authority to execute and deliver leases, contracts or agreements  The board of trustees is authorized to execute and deliver to the appropriate State officers or agencies such leases, contracts or agreements, which may include options to purchase, agreements for appropriate State officers or agencies to act as agent for the fund in connection with the purchase of land, construction of buildings or other improvements, and otherwise as may be necessary or appropriate in order to execute the purposes of this act. L.1960, c. 44, p. 179, s. 7.
NJ Rev Stat § 43:15A-33.8 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.8 - Construction of buildings on state lands and transfer of title to Public Employees' Retirement System

43:15A-33.8. Construction of buildings on state lands and transfer of title to Public Employees' Retirement System  In order to carry out the purposes of this act, the rental arrangement or lease referred to in section 4 of this act may include, on behalf of the State, permission to construct a building or buildings, which will constitute the real property in which the investment is made, upon lands owned by the State, and to transfer title to such lands to the said Public Employees' Retirement System. L.1960, c. 44, p. 180, s. 8.
NJ Rev Stat § 43:15A-33.9 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.9 - Responsibility for selection of site, planning of building, etc.; co-ordination of location and plans with master plans

43:15A-33.9. Responsibility for selection of site, planning of building, etc.; co-ordination of location and plans with master plans  The Director of the Division of Purchase and Property, subject to the approval of the State House Commission, shall be responsible for the selection of a site, planning of any building to be constructed on behalf of the Public Employees' Retirement System as an investment under this act, as well as the acquisition of lands, negotiation and approval of leases, contracts, options and other instruments and agreements, in order that the location of and plans for the building shall be co-ordinated with the master plan to be developed pursuant to P.L.1959, chapter 5. L.1960, c. 44, p. 180, s. 9.
NJ Rev Stat § 43:15A-33.10 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-33.10 - Partial invalidity

43:15A-33.10. Partial invalidity  If any clause, sentence, subdivision, paragraph, section or part of this act be adjudged by any court of competent jurisdiction to be ineffective, such determination shall not affect or impair the remainder thereof, but shall be confined in its operation to the clause, sentence, subdivision, paragraph, section or part thereof directly involved in the controversy in which said determination shall have been rendered. L.1960, c. 44, p. 180, s. 11.