reglab/housing_qa huggingface dataset:
NJ Rev Stat § 53:5A-29 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-29 - Loan terms; repayment after retirement of member of SPRS.

53:5A-29 Loan terms; repayment after retirement of member of SPRS.  29. 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 aggregate contributions, but not less than $50.00; provided, that the amount so borrowed, together with interest thereon, can be repaid by additional deductions from salary, not in excess of 25% of the member's salary, made at the time the salary 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 deductions from the salary of the member at the time the salary 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 aggregate contributions. The interest earned on such loans shall be treated in the same manner as interest earned from investments of the retirement system. 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 allowance payments the same monthly amount which was deducted from the salary of the member immediately preceding retirement until the balance of the amount borrowed together with the interest is repaid. In the case of a retirant 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 retirant either in the form of monthly payments due to the retirant's beneficiaries or in the form of lump sum payments payable for pension or group life insurance. L.1965, c.89, s.29; amended 1971, c.181, s.19; 1999, c.132, s.5; 2007, c.92, s.40.
NJ Rev Stat § 53:5A-31 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-31 - Administration of funds.

53:5A-31 Administration of funds.  31. a. The board of trustees shall be and are hereby constituted trustees 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 c. 270, P.L.1950, as amended and supplemented. b. The secretary of the board 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. (Deleted by amendment, P.L.2011, c.78). d. 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 and the chairman of the board of trustees. A duly attested copy of the resolution of the board of trustees designating the chairman and bearing on its face specimen signatures of the chairman and the secretary shall be filed with the treasurer as his authority for making payments upon such vouchers. e. The administration of the program shall be performed by the personnel of the Division of Pensions and Benefits of the State Department of the Treasury and the costs of administration shall be borne by the State. L.1965, c.89, s.31; amended 1966, c.153, s.17; 1970, c.57, s.14; 1971, c.181, s.21; 2011, c.78, s.32.
NJ Rev Stat § 53:5A-32 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-32 - Duties of actuary

53:5A-32. Duties of actuary  The actuary shall recommend such data as shall be necessary for actuarial valuation of the various funds created by this act. At least once in every 3-year period the actuary shall make an actuarial investigation into the mortality, service and compensation 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 board shall adopt for the retirement system such mortality, service and other tables as shall be deemed necessary. L.1965, c. 89, s. 32, eff. July 1, 1965. Amended by L.1971, c. 181, s. 22, eff. June 1, 1971; L.1972, c. 157, s. 4.
NJ Rev Stat § 53:5A-33 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-33 - Establishment of funds

53:5A-33. Establishment of funds  Under this act there shall be established a Contingent Reserve Fund, the Annuity Savings Fund, the Retirement Reserve Fund and the Retired Members' Group Insurance Premium Fund. L.1965, c. 89, s. 33, eff. July 1, 1965. Amended by L.1966, c. 153, s. 18, eff. June 18, 1965.
NJ Rev Stat § 53:5A-34.1 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-34.1 - Liability determined by actuary

53:5A-34.1. Liability determined by actuary  2. The actuary for the State Police Retirement System shall determine for the valuation period of the retirement system in which this act takes effect the liability of the retirement system for the increased pension benefits provided under this act for all participants of the retirement system as of the last day of the valuation period. This liability shall be added to the unfunded accrued liability of the retirement system and shall be paid by the State in the same manner and over the remaining time period provided for the State's unfunded accrued liability under section 34 of P.L.1965, c.89 (C.53:5A-34). The actuary shall determine annually thereafter the liability of the retirement system for the increased pension benefits provided under this act for new participants, which shall be included in the normal contribution paid by the State. The State shall pay the cost of the actuarial work to determine the additional liabilities of the retirement system for the benefits under this act.  L.1991,c.379,s.2.
NJ Rev Stat § 53:5A-34.2 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-34.2 - Payment of pension adjustment benefits; funding

53:5A-34.2. Payment of pension adjustment benefits; funding  30. Pension adjustment benefits for members and beneficiaries of the State Police 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.30; amended 1994,c.62,s.14.
NJ Rev Stat § 53:5A-35 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-35 - Annuity savings fund

53:5A-35. Annuity savings fund  The Annuity Savings Fund shall be the fund in which shall be credited aggregate contributions 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 his death as provided in this 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. L.1965, c. 89, s. 35, eff. July 1, 1965. Amended by L.1971, c. 181, s. 24, eff. June 1, 1971.
NJ Rev Stat § 53:5A-36 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-36 - Retirement reserve fund

53:5A-36. Retirement reserve fund  The Retirement Reserve Fund shall be the fund from which all retirement allowances and pensions shall be paid. Upon the retirement of a member, his aggregate contributions 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.1965, c. 89, s. 36, eff. July 1, 1965. Amended by L.1971, c. 181, s. 25, eff. June 1, 1971.
NJ Rev Stat § 53:5A-37 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-37 - Retired members' group insurance premium fund

53:5A-37. Retired members' group insurance premium fund  The Retired Members' Group Insurance Premium Fund shall be the fund in which shall be accumulated the contributions from retired members to provide for their additional death benefits as provided by section 15 of this act. The retirement system shall pay over to the State Treasurer the contributions so accumulated who shall deposit them in the Group Insurance Premium Fund. L.1965, c. 89, s. 37, eff. July 1, 1965. Amended by L.1966, c. 153, s. 19, eff. June 18, 1966.
NJ Rev Stat § 53:5A-38 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-38 - Payroll deductions; amount.

53:5A-38 Payroll deductions; amount.  38. There shall be deducted from the payroll of each active member of the system 7 1/2% of the amount of his salary, which shall be turned over to the State Treasurer and be credited by him to the account of the State Police Retirement System. Members of the retirement system shall contribute 9% of salary to the system on and after the effective date of P.L.2011, c.78. The deductions provided for herein shall be made notwithstanding that the minimum salary provided for by law for any member shall be reduced thereby. Every member shall be deemed to consent and agree to the deductions made and provided for herein, and payment of salary or compensation less said deductions shall be a full and complete discharge and acquittance of all claims and demands whatsoever for the service rendered by such person during the period covered by such payment, except as to the benefits provided under this act. L.1965, c.89, s.38; amended 1966, c.153, s.20; 1980, c.55, s.6; 2011, c.78, s.16.
NJ Rev Stat § 53:5A-38.1 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-38.1 - Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application

53:5A-38.1. Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application  30. 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 38 of P.L.1965, c.89 (C.53:5A-38), 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. 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 31 of P.L.1971, c.181 (C.53:5A-15.3). 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.1971,c.181,s.30; amended 1995,c.369,s.4.
NJ Rev Stat § 53:5A-39 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-39 - Obligations of state; estimate of moneys needed; budget request; appropriation

53:5A-39. Obligations of state; estimate of moneys needed; budget request; appropriation  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 allowances and other benefits granted by the board of trustees 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 each 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 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 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 various funds created by this act. L.1965, c. 89, s. 39, eff. July 1, 1965.
NJ Rev Stat § 53:5A-40 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-40 - Payment of proceeds of tax on foreign insurance companies to state treasurer for deposit in general funds

53:5A-40. Payment of proceeds of tax on foreign insurance companies to state treasurer for deposit in general funds  While 1/8 of the 2% tax collected by the State Tax Commissioner under section 54:17-1 of the Title Taxation from insurance companies of other States and foreign countries, on premiums of insurance against automobile liability, automobile property damage, automobile collision and automobile fire and theft insurance risks in this State, were turned over monthly by the State Tax Commissioner to the State Treasurer to be added to the former "State Police Retirement and Benevolent Fund" the proceeds of such tax shall henceforth be paid to the State Treasurer for deposit in the funds of the General Treasury. L.1965, c. 89, s. 40, eff. July 1, 1965.
NJ Rev Stat § 53:5A-41 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-41 - Inapplicability of other provisions; necessity for creation of reserves

53:5A-41. Inapplicability of other provisions; necessity for creation of reserves  a. No other provision of the law in any other statute which provides wholly or partly at the expense of the State of New Jersey for pensions or retirement benefits for members of this system and for beneficiaries shall apply to such members or beneficiaries. b. Notwithstanding anything to the contrary, the retirement system shall not be liable for the payment of any pensions or other benefits to any member or beneficiary for which reserves have not been previously created from funds contributed by the members or the State for such benefits. L.1965, c. 89, s. 41, eff. July 1, 1965.
NJ Rev Stat § 53:5A-42 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-42 - Fraud; punishment; correction of errors

53:5A-42. Fraud; punishment; correction of errors  Any person who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of this retirement system in any attempt to defraud such system as a result of such act shall be guilty of a misdemeanor and shall be punishable therefor under the laws of the State of New Jersey. Should any change or error in the records result in any member or person receiving from the retirement system more or less than he would have been entitled to receive had the records been correct, the retirement system shall, as far as practicable, correct such error and adjust the payments in such manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid. 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.1965, c. 89, s. 42, eff. July 1, 1965. Amended by L.1971, c. 181, s. 26, eff. June 1, 1971.
NJ Rev Stat § 53:5A-43 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-43 - Waiver of portion of pension, benefit or retirement allowance

53:5A-43. Waiver of portion of pension, benefit or retirement allowance  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 this act, may, by filing written request with the retirement system, waive payment of a portion of the pension, benefit, or retirement allowance, including annuity, to which he may be entitled. Upon the receipt of such waiver, and until the same is withdrawn, altered or revoked by a subsequent written request, similarly filed, the retirement system shall pay a reduced pension, benefit, retirement allowance or annuity as shall be requested in such waiver. The member or the 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.1965, c. 89, s. 43, eff. July 1, 1965.
NJ Rev Stat § 53:5A-44 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-44 - Deductions from pension or allowance to pay premiums for group health insurance plan or state health benefits program

53:5A-44. Deductions from pension or allowance to pay premiums for group health insurance plan or state health benefits program  If possible, whenever any retirant or beneficiary shall, in writing, request the Division of Pensions to make deductions from his retirement allowance or pension for the purpose of paying premiums for the pensioners' group health insurance plan or the State Health Benefits program, the division may make such deductions and transmit the sums so deducted to the companies carrying the policies. Any such written authorization may be withdrawn by any retirant or beneficiary upon filing notice of such withdrawal with the division. L.1965, c. 89, s. 44, eff. July 1, 1965. Amended by L.1971, c. 181, s. 27, eff. June 1, 1970.
NJ Rev Stat § 53:5A-44.1 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-44.1 - Medicare premium reimbursement

53:5A-44.1. Medicare premium reimbursement  Any retirant of the State Police Retirement System established pursuant to P.L. 1965, c. 89 (C. 53:5A-1 et seq.) who pays the premium charges under Part A and Part B of the federal medicare program covering the retirant and the retirant's spouse shall be reimbursed by the State for the premium charges paid under Part A. "Medicare" as used in this act means the coverage provided under Title XVIII of the Social Security Act as amended in 1965 or its successor plan or plans.  L. 1987, c. 447, s. 1.
NJ Rev Stat § 53:5A-45 (2021)
2021 New Jersey Revised Statutes|Title 53 - State Police|Section 53:5A-45 - Tax exemption; exemptions from levy and sale, garnishment, attachment or other process; assignability of rights; assignment of group insurance policy rights and benefits

53:5A-45. Tax exemption; exemptions from levy and sale, garnishment, attachment or other process; assignability of rights; 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 accruing to a person under the provisions of this act and the moneys in the various funds created under this act, shall be exempt from any State or municipal tax and from levy and sale, garnishment, attachment or any other process arising out of any State or Federal court, and, except as hereinafter in this section and as in this act otherwise provided, shall be unassignable. Nothing in this section shall prohibit any person insured under a group insurance policy, pursuant to an arrangement among the insured, the group policyholder and the insurer, from making to any person other than his employer, a gift assignment of the rights and benefits conferred on him by any provision of such policy or by law including specifically but not by way of limitation the right to exercise the conversion privilege and the right to name a beneficiary. Any such assignment, whether made before or after the effective date of this act, shall entitle the insurer to deal with the assignee as the owner of all rights and benefits conferred on the insured under the policy in accordance with the terms of the assignment. L.1965, c. 89, s. 45, eff. July 1, 1965. Amended by L.1969, c. 98, s. 4, eff. June 26, 1969.