reglab/housing_qa huggingface dataset:
NJ Rev Stat § 43:15A-34 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-34 - Borrowing from fund by members, interest rates.

43:15A-34 Borrowing from fund by members, interest rates.  34. Any member who has at least 3 years of service to his credit for which he has contributed as a member may borrow from the retirement system, an amount equal to not more than 50% of the amount of his 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 his 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.1954, c.84, s.34; amended 1955, c.261, s.8; 1966, c.217, s.5; 1971, c.213, s.14; 1981, c.55, s.1; 2007, c.92, s.36.
NJ Rev Stat § 43:15A-34.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-34.1 - Repayment of loans after retirement of members of PERS.

43:15A-34.1 Repayment of loans after retirement of members of PERS.  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 his beneficiaries or in the form of lump sum payments payable for pension or group life insurance. L.1981, c.55, s.2; amended 1988, c.134, s.2; 1999, c.132, s.2; 2007, c.92, s.37.
NJ Rev Stat § 43:15A-35 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-35 - Custodian of fund; payments; vouchers

43:15A-35. Custodian of fund; payments; vouchers  The State Treasurer shall be the custodian of the funds created by this act, shall select all depositories and custodians and shall negotiate and execute custody agreements in connection with the assets or investments of any of said funds. All payments from the funds shall be made by him only upon voucher signed by the chairman and countersigned by the secretary of the board of trustees. No voucher shall be drawn, except upon the authority of the board duly entered in the record of its proceedings. L.1954, c. 84, p. 495, s. 35. Amended by L.1954, c. 244, p. 895, s. 6.
NJ Rev Stat § 43:15A-36 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-36 - Interest in fund by trustee or employee prohibited

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 employee of the board directly or indirectly, for himself or as an agent in any manner use the moneys of the retirement system, except to make such current and necessary payments as are authorized by the board of trustees; nor shall any trustee or employee of the board of trustees become an endorser or surety, or in any manner an obligor for moneys loaned to or borrowed from the retirement system. L.1954, c. 84, p. 495, s. 36. Amended by L.1970, c. 57, s. 4, eff. May 18, 1970.
NJ Rev Stat § 43:15A-37 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-37 - Obligations of State; basis of State appropriation.

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 allowances and other benefits granted by the board of trustees under the provisions of this act, except the amounts payable by other employers, 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 and other employers, including, during the term of the lottery contribution made pursuant to section 4 of P.L.2017, c.98 (C.5:9-22.8), all income, interest, and dividends derived from deposits and investments in the investment account of Common Pension Fund L, established pursuant to section 6 of P.L.2017, c.98 (C.5:9-22.10). Upon the basis of each actuarial determination and appraisal provided for in this act, the board of trustees shall submit to the Governor in each year an itemized statement of the amounts necessary to be appropriated by the State to provide for payment in full during the ensuing fiscal year of the obligations of the State accruing during that year. 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.1954, c.84, s.37; amended 1971, c.213, s.15; 2017, c.98, s.25.
NJ Rev Stat § 43:15A-38 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-38 - Vesting of PERS members.

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 charges of misconduct or delinquency, such person may elect to receive: (a) The payments provided for in section 41b. of this act, if he so qualifies under said section; or (b) A deferred retirement allowance, beginning at the retirement age, which shall be made up of an annuity derived from the accumulated deductions standing to the credit of the individual member's account in the annuity savings fund at the time of his severance from the service together with regular interest, and a pension which when added to the annuity will produce a total retirement allowance of 1/64 of final compensation for each year of service credited as Class A service and 1/55 of final compensation for each year of service credited as Class B service, or for a person who becomes a member of the retirement system on or after the effective date of P.L.2010, c.1 1/60 of final compensation for each year of service credited as Class B service, calculated in accordance with section 48 of this act, with optional privileges provided for in section 50 of this act if he exercises such optional privilege at least 30 days before his attainment of the normal retirement age; provided, that such election is communicated by such member to the retirement system in writing stating at what time subsequent to the execution and filing thereof he desires to be retired; and provided further, that such member, as referred to in this subsection may later elect: (1) to receive the payments provided for in section 41b. of this act, if he had qualified under that section at the time of leaving service, except that in order to avail himself of the optional privileges pursuant to section 50, he must exercise such optional privilege at least 30 days before the effective date of his retirement; or (2) to withdraw his accumulated deductions with interest as provided in section 41a. If such member shall die before attaining service retirement age then his accumulated deductions, plus regular interest, shall be paid in accordance with section 41c.; or if such member shall die after attaining service retirement age and has not withdrawn his accumulated deductions, an amount equal to 3/16 of the compensation received by the member in the last year of creditable service shall be paid to such person, if living, as he shall have nominated by written designation duly executed and filed with the retirement system; otherwise to the executor or administrator of the member's estate. L.1954, c.84, s.38; amended 1955, c.261, s.9; 1966, c.217, s.6; 1981, c.177, s.4; 2001, c.133, s.11; 2010, c.1, s.11.
NJ Rev Stat § 43:15A-39.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-39.1 - Credit in retirement system for members on approved leave of absence.

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 with an organization which represents, public employees shall have the option to receive credit in the retirement system for the service. Any member who chooses to receive the credit shall be liable, with respect to the service to be credited, for payment to the retirement system of both the contributions that would have been required under section 25 of P.L.1954, c.84 (C.43:15A-25) and section 30 of P.L.1954, c.84 (C.43:15A-30) and the contributions that would have been required under section 24 of P.L.1954, c.84 (C.43:15A-24) if that service had been rendered as regular service to the employer granting the leave of absence. The contributions shall be based upon the compensation that would have been received by the member under the negotiated salary guide of the employer granting the leave had that member remained in service with that employer, including applicable normal increments and negotiated wage increases occurring during the period of the leave. L.2005,c.368,s.3.
NJ Rev Stat § 43:15A-41.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-41.1 - Eligibility for death benefit; evidence of insurability

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 of 1954, and by this act, if on the date he files an application for membership he is 60 or more years of age or if he makes application for membership beyond the year after he first became eligible for membership, regardless of age, unless the member furnishes satisfactory evidence of insurability and on the effective date of his membership is actively at work and performing all his regular duties at his customary place of employment. The effective date of coverage for such death benefits shall be the first day of the month which immediately follows the date when such evidence is determined to be satisfactory. b. Such evidence of insurability will not be required of any person becoming a member of the Public Employees' Retirement System upon transfer from another State administered retirement system, if such system provided death benefits of a similar nature and the transferring member was covered by such benefits at the time of transfer. If such transferring member was not covered by such benefits at the time of the transfer, he may be allowed the death benefits of the Public Employees' Retirement System subject to the provisions of subsection a. of this section; provided, however, that any such member must furnish satisfactory evidence of insurability under the provisions of subsection a. of this section if he had been unable or failed to give such evidence as a member of the system from which he transferred. c. Any person who must furnish satisfactory evidence of insurability under the provisions of this section and who ceases to be a member of the retirement system without such evidence having been given, shall continue to be subject to the same requirement if he subsequently becomes a member. L.1971, c. 213, s. 47, eff. June 17, 1971.
NJ Rev Stat § 43:15A-42 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-42 - Ordinary disability retirement.

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 of one acting in his behalf, be retired for ordinary disability by the board of trustees. The physician or physicians designated by the board shall have first made a medical examination of him at his residence or at any other place mutually agreed upon and shall have certified to the board that the member is physically or mentally incapacitated for the performance of duty and should be retired. The service requirement provisions of this amendatory and supplementary act shall not become effective for 5 years following the effective date of the act. No person who becomes a member of the retirement system on or after the effective date of P.L.2010, c.3 shall be eligible for retirement pursuant to this section.  L.1954, c.84, s.42; amended 1966, c.67, s.3; amended 2010, c.3, s.8.
NJ Rev Stat § 43:15A-42.2 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-42.2 - Inapplicability relative to certain transferred service credit.

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 persons who become members of the retirement system on or after the effective date of P.L.2010, c.3 shall not apply to a person who at the time of enrollment in the retirement system on or after that effective date transfers service credit, as permitted, from another State-administered retirement system or fund of which the person was a member immediately prior to the effective date and continuously thereafter, but shall apply to a former member of the retirement system who has been granted a retirement allowance and is reenrolled in the retirement system on or after that effective date after becoming employed again in a position that makes the person eligible to be a member of the retirement system. L.2010, c.3, s.12.
NJ Rev Stat § 43:15A-43.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-43.1 - "Law enforcement officer."

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 disability of a member who is a law enforcement officer, firefighter, or emergency medical responder eligible to retire pursuant to that subsection a. shall be deemed to have occurred as a direct result of a traumatic event occurring during and as a result of the performance of regular or assigned duties if: the law enforcement officer, firefighter, or emergency medical responder contracts COVID-19 and tests positive for SARS-CoV-2 during the public health emergency in the State declared by the Governor in Executive Order No. 103 of 2020 and as extended; the law enforcement officer, firefighter, or emergency medical responder is permanently and totally disabled as a result of COVID-19; and the law enforcement officer, firefighter, or emergency medical responder's regular or assigned duties required the law enforcement officer, firefighter, or emergency medical responder to interact, and the law enforcement officer, firefighter, or emergency medical responder so interacted, with the public or to directly supervise other personnel so interacting with the public on any date during the public health emergency in the State declared by the Governor in Executive Order No. 103 of 2020 and as extended and within 14 calendar days prior to the appearance of symptoms consistent with COVID-19 that shall have been confirmed in writing by a licensed health care provider on a form approved by the board of trustees and also confirmed by a positive test result for SARS-CoV-2. A member who is a law enforcement officer, firefighter, or emergency medical responder and who retired during the public health emergency in the State declared by the Governor in Executive Order No. 103 of 2020 and as extended and has been approved for a retirement allowance pursuant to a provision other than this section or section 43 of P.L.1954, c.84 (C.43:15A-43) prior to the effective date of this act, P.L.2020, c.54, may apply for a retirement allowance pursuant to this section and, if approved, the prior approval shall be rescinded and the retirement allowance pursuant to approval under this section shall be made retroactive to the date of the initial approval of the rescinded retirement allowance. This section shall not apply to any member who has retired and subsequently returned to employment pursuant to Executive Order No. 115 of 2020 or any other executive order similarly permitting a retired member to return to employment without reenrollment to assist during the public health emergency and state of emergency. New onset diseases and chronic psychological disease resulting from prior exposure to, and recovery from, COVID-19 shall not be deemed a permanent and total disability resulting from COVID-19. L.2020, c.54, s.3.
NJ Rev Stat § 43:15A-45 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-45 - Allowance for ordinary disability retirement.

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 interest and b. A pension in the amount which, when added to the member's annuity, will provide a total retirement allowance of 1.64% of final compensation multiplied by his number of years of creditable service; provided further, that in no event shall the allowance be less than 43.6% of final compensation. c. Upon the receipt of proper proofs of the death of a member who has retired on an ordinary disability retirement allowance, there shall be paid to such member's beneficiary, an amount equal to 1 1/2 times the compensation upon which contributions by the member to the annuity savings fund were based in the last year of creditable service; provided, however, that if such death shall occur after the member shall have attained age 60, the amount payable shall equal 3/16 of such compensation. L.1954, c.84, s.45; amended 1955, c.261, s.12; 1966, c.67, s.6; 1971, c.213, s.19, 2001, c.353, s.9.
NJ Rev Stat § 43:15A-45.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-45.1 - Increase in retirement allowance under C.43:15A-45 and C.43:15A-50.

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 date of P.L.2001, c.353 shall be increased by a percentage equivalent to the percentage increase in the fraction of final compensation for each year of credited service for the total retirement allowance under these sections made by this act, P.L.2001, c.353 (C.18A:66-41.1 et al.). The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not be applicable to the increases in retirement allowances provided by this section. L.2001,c.353,s.10.
NJ Rev Stat § 43:15A-46 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-46 - Allowance for retirement for accidental disability.

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 deductions together with regular interest; and b. A pension, in the amount which, when added to the member's annuity, will provide a total retirement allowance of 72.7% of his actual annual compensation for which contributions were being made at the time of the occurrence of the accident. c. Upon receipt of proper proofs of the death of a member who has retired on an accidental disability retirement allowance, there shall be paid to such member's beneficiary, an amount equal to 1 1/2 times the compensation upon which contributions by the member to the annuity savings fund were based in the last year of creditable service; provided, however, that if such death shall occur after the member shall have attained age 60, the amount payable shall equal 3/16 of such compensation. L.1954,c.84,s.46; amended 1955, c.261, s.13; 1966, c.67, s.7; 1971, c.213, s.20; 2001, c.353, s.11.
NJ Rev Stat § 43:15A-46.1 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:15A-46.1 - Increase in retirement allowance under C.43:15A-46 and C.43:15A-50.

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 date of P.L.2001, c.353 shall be increased from 2/3 to 72.7% of the actual annual compensation for which contributions were being made at the time of the occurrence of the accident. The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not be applicable to the increases in retirement allowances provided by this section. L.2001,c.353,s.12.