reglab/housing_qa huggingface dataset:
NJ Rev Stat § 43:13-22.60 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.60 - Exemption of fund from taxation and process

43:13-22.60. Exemption of fund from taxation and process  All pensions granted under this act shall be exempt from any State or municipal tax, levy and sale, garnishment or attachment or any other process whatsoever, and shall be unassignable, except for the purpose and to the extent necessary to authorize, with the member's or pensioner's consent, deductions of premiums for group hospitalization and medical-surgical insurance. L.1964, c. 275, s. 11.
NJ Rev Stat § 43:13-22.61 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.61 - Existing pension fund superseded by and merged into retirement system

43:13-22.61. Existing pension fund superseded by and merged into retirement system  It is the intention of this act that the retirement system herein provided for shall, on and after the effective date of this act, supersede and take the place of any pension system then existing in the said city pursuant to article 2, chapter 13, Title 43, of the Revised Statutes. Any aforesaid former pension system shall become a part of and shall be and hereby is merged into the retirement system created by this act. All moneys, securities and other assets of such former pension system shall be transferred as of the effective date of this act by the commission of such pension fund to the commission created by this act; which commission is hereby empowered to receive the said funds and assets for and on behalf of the retirement system herein provided for; and the said pension fund created by virtue of article 2, chapter 13, Title 43, of the Revised Statutes shall then cease to exist as a separate pension fund in said city, subject, however, to the provisions of this section 12 of this act. All pensions and other benefits allowed prior to the effective date of this act, under the statute hereinabove specified governing such former pension fund, shall thereafter be paid from the retirement system herein created and according to the provisions of the statutes governing such former pension fund, except as herein otherwise provided. It is the intention of this act that all existing obligations of said former pension fund on account of pensioners and beneficiaries of the fund as of the date of transfer as aforesaid, are assumed and shall be discharged by the retirement system herein created, and such benefits allowed under said former pension fund shall not be diminished or impaired; provided, however, that nothing in this act shall affect the payment or the rates of contributions required of pensioners receiving benefits under said former pension fund on the effective date of this act. L.1964, c. 275, s. 12.
NJ Rev Stat § 43:13-22.62 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.62 - Pension commission

43:13-22.62. Pension commission  A pension commission shall be created in every city of the first class, as defined in this act, which shall consist of the following members: (a) The mayor or other chief executive of such city; (b) The chief financial officer of such city; (c) Two city employees of such city who shall be nominated and elected at a meeting of the city employees of such city held on the third Wednesday of December of every second year. Their term of office shall be for 2 years commencing January 1 following their election; and (d) A citizen of such city who holds no office under such city, who shall be selected by the other 4 members of the commission and shall hold office for the term of 1 year. In case of vacancy for any cause, the commission may fill such vacancy until the next election. The commission shall hold its annual meetings on the first business day of January in each year and elect its president, and such other officers as it deems advisable. The commission shall also at such meeting elect a secretary from or outside of the city employees, whose compensation the commission shall have power to fix. As of the effective date of this act and until such time as the full membership of the pension commission shall be completed in accordance with the provisions of this act, the powers, duties and obligations of the commission, as provided in this act, shall be assumed by the pension commission of the pension fund of the city in existence on said date created under and by virtue of article 2, chapter 13, Title 43, of the Revised Statutes. L.1964, c. 275, s. 13.
NJ Rev Stat § 43:13-22.63 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.63 - Powers and duties of pension commission

43:13-22.63. Powers and duties of pension commission  All retirements shall be made and pensions allowed under this act by the commission. The commission shall have control and management of the fund and of the retirement of the members of the system and may make all necessary rules and regulations regarding the same not inconsistent with this act. The members of the commission shall be the trustees of the fund and shall have full power to invest and reinvest the fund, subject to all the terms, conditions, limitations and restrictions imposed by the laws of the State upon life insurance companies in the making and disposing of their investments; and subject to like terms, conditions, limitations, and restrictions, such trustees shall have full power to hold, purchase, sell, assign, transfer, and dispose of any securities and investments in which the fund shall have been invested, as well as the proceeds of such investments; provided, however, that no restrictions as to the percentages of various classifications of investments now or hereafter described by the statutes establishing legal investments for life insurance companies under the laws of the State shall be applicable. The commission shall deposit the fund in any depository lawful for the deposit of municipal funds. Any agreement, release, acquittance, satisfaction, and any and all other documents which may be required in the management of the fund shall be executed by the president and secretary on behalf of the commission. The commission shall make an annual report of the condition of the fund and the manner in which the same is invested. L.1964, c. 275, s. 14.
NJ Rev Stat § 43:13-22.64 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.64 - Appointment of attorney, physician and actuary

43:13-22.64. Appointment of attorney, physician and actuary  The commission shall appoint an attorney and shall secure the services of such physician or physicians as shall be necessary to make the medical examinations required by this act. The commission shall appoint an actuary who shall be the technical adviser of the commission on matters regarding the operation of the system and shall perform such other duties as are required in connection therewith. The actuary shall recommend, and the commission shall keep in convenient form, such data as shall be necessary for the actuarial valuation of the retirement system. Once in every 5-year period after the effective date of this act, the actuary shall make an actuarial investigation into the mortality, service and salary experience of the members and dependents of the retirement system, and each year after such date shall make an actuarial valuation of the assets and liabilities of the system. Upon the basis of such investigations and valuations the pension commission shall: (a) Adopt for the retirement system such mortality, service and other tables as shall be deemed necessary. (b) Certify the rates of contribution expressed as a percentage of the compensation of members which shall be made by the city to the fund. L.1964, c. 275, s. 15.
NJ Rev Stat § 43:13-22.65 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.65 - Unlawful action--bar to pension

43:13-22.65. Unlawful action--bar to pension  If any member shall become incapacitated from or shall lose his life in the performance or commission of any unlawful act which would warrant his dismissal from the employ of the city, no pension shall be paid to such member or to his widow, her husband, his or her children or dependent parents. L.1964, c. 275, s. 16.
NJ Rev Stat § 43:13-22.67 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.67 - Loans from retirement system.

43:13-22.67 Loans from retirement system.  1. Any member who has at least three years of service credit for which contributions have been made 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 $1,000.00. Any loan from the retirement system must satisfy the requirements of the federal Internal Revenue Code of 1986, as amended, regulations of the United States Treasury Department, and other directives or guidance of the federal Internal Revenue Service. At the time a loan is made, a loan amount shall not result in the projected required loan payments, including interest contained in the payment, for the following calendar year exceeding 25% of the member's annual salary at the time the loan is made. If a member's salary is uncertain at that time, the commission shall use a reasonable estimate of the member's expected salary to impose this 25% limitation. The amount so borrowed, together with interest at a rate fixed by the commission on any unpaid balance, shall be repaid to the retirement system in equal installments by deduction from salary or in another manner and in amounts which the commission shall approve; but the installments shall be at least equal to the member's contribution to the retirement system and at least sufficient to repay the amount borrowed with interest at the conclusion of a term fixed by the commission. No more than two loans may be made to any member in any 12-month period. The retirement system shall make no loan to a member after the member has terminated employment with the city.  Interest charged for loans to members shall be fixed annually by the commission to take effect January 1 of each calendar year at a rate equal to the average of the daily rates of interest at constant maturity based on daily trades paid by 30-year United States Treasury bonds for the period beginning on the first and ending on the 30th day of the immediately preceding November plus 1%, or 10%, whichever is less. The interest earned from loans to members shall be treated in the same manner as interest from investments of the retirement system.  L.1987, c.171, s.1; amended 2003, c.167, s.1; 2013, c.282, s.8.
NJ Rev Stat § 43:13-22.68 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.68 - Repayment.

43:13-22.68 Repayment.  2. a. Notwithstanding any other law affecting the salary or compensation of a borrowing member to the contrary, including any law restricting the amount or level of deductions from an employee's salary or compensation, the additional deductions required to repay the loan shall be made as necessary to comply with the requirements governing loans from the retirement system pursuant to section 1 of P.L.1987, c.171 (C.43:13-22.67).  b. If a member employed by the city fails to make timely payments on the member's outstanding loan, the retirement system shall offset, to the extent possible, a member's benefit for the unpaid loan balance, including interest accrued, and shall report the unpaid loan balance as taxable income to the member pursuant to the federal Internal Revenue Code of 1986, as amended. c. If a member terminates employment with the city without commencing the receipt of a benefit under the retirement system, any unpaid loan balance, including interest accrued, shall become immediately due and payable. If the unpaid loan balance is not repaid by the time set by the commission, the member's remaining benefit in the retirement system shall be reduced by the unpaid loan balance, including interest accrued, at the time of the reduction. The unpaid loan balance and accrued interest shall be reported to the federal Internal Revenue Service as income pursuant to the federal Internal Revenue Code of 1986, as amended. d. If a member terminates employment with the city and commences the receipt of a benefit under the retirement system, the unpaid loan balance, including interest accrued, shall be deducted from the benefit otherwise payable. Such deduction shall be applied as follows: (1) If a member elects to receive a single-sum payment of the member's benefit, the amount paid to the member shall be reduced by the unpaid loan balance, including interest accrued. (2) If a member elects to receive the member's benefits as an annuity, loan payments, including interest, shall be deducted from the benefit payments. e. The retirement system shall administer the provisions of subsections b., c. and d. of this section in compliance with the requirements of the federal Internal Revenue Code of 1986, as amended.  f. If a member or retiree dies before the outstanding balance of the loan and interest has been repaid, the remaining balance shall be repaid from the proceeds of any other benefits payable on the account of the member or retiree, such as monthly payments to the member's beneficiaries or lump sum payments for pension or group life insurance.  L.1987, c.171, s.2; amended 2013, c.282, s.9.
NJ Rev Stat § 43:13-22.69 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.69 - Terms defined

43:13-22.69. Terms defined  As used in sections 7 through 13 of this act: "Retirant" means any former employee included in the membership of the pension fund established under P.L.1964, c.275, who has retired from such employment and who has or shall have received from the fund a retirement allowance or pension, based upon such employment, for not less than 24 months. "Employer" means the city in which a pension fund has been created under P.L.1964, c.275. "Beneficiary" means any beneficiary who has or shall have received a pension or survivorship benefit from the fund for no less than 24 months. "Calendar year" means the 12-month period beginning January 1 and ending December 31. "Retirement year" means the calendar year 1988 for all retirants who retired before the calendar year 1989; for all retirants who shall have retired after 1988, "retirement year" is the actual calendar year of retirement.  "Index" means the annual average over a calendar year of the Consumer Price Index for Urban Wage Earners and Clerical Workers, All Items Series A, of the United States Department of Labor (1957-1959=100). Should the reference base of that index be changed, the index used to determine the Consumer Price Index as defined herein will be the index converted to the new base by standard statistical methods.  "Retirement year index" means the index of the calendar year 1988 for all retirants who retired prior to January 1, 1989 and the index for the calendar year of retirement for all retirants who retired thereafter.  L.1990,c.20,s.7.
NJ Rev Stat § 43:13-22.70 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.70 - Adjustment to monthly retirement allowance or pension

43:13-22.70. Adjustment to monthly retirement allowance or pension  The monthly retirement allowance or pension originally granted to any retirant and the pension or survivorship benefit originally granted to any beneficiary shall be adjusted in accordance with the provisions of this act.  Pension increases shall not be paid to retirants or beneficiaries who are not receiving their regular, full, monthly retirement allowances, pensions or survivorship benefits. The adjustment granted under the provisions of this act shall be effective only on the first day of a month, shall be paid in monthly installments, and shall not be decreased, increased, revoked or repealed except as otherwise provided in this act. No increase shall be due to a retirant or his beneficiary unless it constitutes a payment for an entire month.  L.1990,c.20,s.8.
NJ Rev Stat § 43:13-22.71 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.71 - Adjustment cost to employer; appropriation to be made

43:13-22.71. Adjustment cost to employer; appropriation to be made  The employer shall bear the cost of the adjustment in the retirement allowances or pensions payable to retirants who retired from the employ of that employer and the cost of the survivorship benefits or pensions payable to beneficiaries of active or retired members who were in the employ of that employer at the members' death or retirement. The employer shall appropriate the amount in the fiscal year next following, taking into account payments made to retirants of the employer and their beneficiaries and prospective payments to be made to those retirants in the following year.  The increase in retirement benefits, pensions and survivorship benefits provided for under this act shall commence with retirement allowance, pension and survivorship benefit payments for the month of January 1990, provided that there is appropriated the amount certified by the Director of the Division of Pensions of the Department of the Treasury to the Director of the Division of Budget and Accounting as set forth in the "Pension Adjustment Act," P.L.1969, c.169 (C.43:3B-1 et seq.). In the case of any retirant or beneficiary first becoming eligible to receive an adjustment under the provisions of this act, such adjustment shall be paid beginning in the 25th month in which the retirant or beneficiary is entitled to receive the retirement allowance, pension or survivorship benefit. The adjustment in retirement allowances, pensions and survivorship benefits shall continue to be paid as long as there shall be appropriated the amounts so certified. In the event that the necessary funds are not so appropriated, the adjustment in retirement allowances, pensions and survivorship benefits shall cease; no further payments shall be made by the employer; and a refund shall be made by the retirement system to the employer of any balance unexpended on its account.  L.1990,c.20,s.9.
NJ Rev Stat § 43:13-22.72 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.72 - Written notice of waiver

43:13-22.72. Written notice of waiver  Any person who is eligible to receive the increased retirement allowance, pension or survivorship benefit under the provisions of this act may, at any time, waive that right by filing a written notice of waiver with the retirement system. The application for the waiver of all or part of the increase shall be made by the retirant or beneficiary at least 30 days prior to the desired effective date on a form satisfactory to the retirement system and shall be effective on the first day of the following month. Such waiver may be withdrawn at any time and upon such withdrawal the increase in the retirement allowance, pension or survivorship benefit shall commence with the payment for the next following month.  L.1990,c.20,s.10.
NJ Rev Stat § 43:13-22.73 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.73 - Calculation of pension adjustment.

43:13-22.73 Calculation of pension adjustment.  11. On or before October 1, 1996 and by the same date in each subsequent year, the Director of the Division of Pensions and Benefits of the Department of the Treasury shall review the index and determine the percentum of change in the index from the retirement year index pursuant to the provisions of the "Pension Adjustment Act," P.L.1958, c.143 (C.43:3B-1 et seq.). The percentage of adjustment in the retirement allowances, pensions and survivorship benefits shall be one-half of the percentum of change in the index. Any adjustment so calculated shall apply to all of the months of the following calendar year for eligible retirants and beneficiaries, except that for those qualifying for the first time, it shall apply only to those months of the following calendar year in which the retirant or beneficiary is eligible to receive the adjustment. On the basis of information certified to the director by the retirement system concerning the amounts of all retirement allowances, pensions and survivorship benefits of eligible retirants and beneficiaries which are subject to adjustment under sections 7 through 13 of P.L.1990, c.20 (C.43:13-22.69 through 22.75), and any other relevant matters as the director may require, the director shall certify to the retirement system the amounts required to fund the benefits provided under those sections for the applicable year. The director shall include in that certification amounts sufficient to adjust the retirement allowances, pensions or survivorship benefits payable to all eligible retirants and beneficiaries by the percentum of change in the index as such retirement allowances or pensions may have been originally granted, or increased for certain retirants and beneficiaries in accordance with the provisions of the "Pension Adjustment Act." In no instance shall the amount of the retirement allowance, pension or survivorship benefit originally granted and payable to any retirant or beneficiary be reduced as a result of this adjustment. L.1990, c.20, s.11; amended 1996, c.101, s.4; 2003, c.167, s.2; 2013, c.282, s.10.
NJ Rev Stat § 43:13-22.74 (2021)
2021 New Jersey Revised Statutes|Title 43 - Pensions and Retirement and Unemployment Compensation|Section 43:13-22.74 - Termination of increases if blanket increase in benefits adopted

43:13-22.74. Termination of increases if blanket increase in benefits adopted  If legislation is adopted providing for a blanket increase in the original retirement allowances, pensions or survivorship benefits or for minimum allowances, pensions or benefits to any group of retirants or beneficiaries eligible for benefits under P.L.1964, c.275 (C.43:13-22.50 et seq.), other than legislation which shall have been enacted on or before the effective date of P.L.1990, c.20 (C.43:13-22.69 et al.), all increases provided under this act shall be terminated on the first of the month when such blanket increases or minimum allowances, pensions or benefits are payable, except in those instances where the retirant's or beneficiary's original allowance, pension or benefit plus the increases provided under this act will exceed the amounts payable to such retirant or beneficiary as a result of such other legislation; in such event the amount payable under this act shall be the difference between the new allowance, pension or benefit payable by the pension fund and the amount which would otherwise have been paid under this act. Any subsequent annual review of amounts payable under this act for such retirants and beneficiaries shall continue to be determined on the basis of the original allowance, pension benefit as granted by the pension fund prior to any blanket increase or provision for minimum retirement allowances, pensions or survivorship benefits for any group of retirants or beneficiaries eligible for benefits under this act.  L.1990,c.20,s.12.