reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-78.30 - Application of provisions of this act or regulations over inconsistent or conflicting laws or regulations

52:18A-78.30. Application of provisions of this act or regulations over inconsistent or conflicting laws or regulations
It is the intent of the Legislature that in the event of any conflict or inconsistency in the provisions of this act and any other acts pertaining to matters herein established or provided for or in any rules and regulations adopted under this act or other acts, to the extent of the conflict or inconsistency, the provisions of this act and the rules and regulations adopted hereunder shall be enforced and the provisions of the other acts and rules and regulations adopted thereunder shall be of no effect.
L.1981, c. 120, s. 30, eff. April 16, 1981.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-78.31 - Severability

52:18A-78.31. Severability
If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, the judgment shall not affect, impair or invalidate the remainder thereof, but shall be confined in its operation to the clause, sentence, paragraph, section or part thereof directly involved in the controversy in which the judgment shall have been rendered.
L.1981, c. 120, s. 31, eff. April 16, 1981.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-78.32 - Liberal construction of act

52:18A-78.32. Liberal construction of act
This act shall be construed liberally to effectuate the legislative intent and the purposes of this act as complete and independent authority for the performance of each and every act and thing herein authorized and all powers herein granted shall be broadly interpreted to effectuate such intent and purposes and not as a limitation of powers.
L.1981, c. 120, s. 32, eff. April 16, 1981.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-84 - Director of Division of Investment.

52:18A-84 Director of Division of Investment.
6. The Division of Investment established hereunder shall be under the immediate supervision and direction of a director, who shall be a person qualified by training and experience to direct the work of such division. The director of such division shall be appointed by the State Treasurer from a list of one or more persons qualified for such office and submitted to the State Treasurer by the State Investment Council; provided, that the State Treasurer may require the submission of an additional list or lists. Each list so submitted by the council shall also contain the qualifications of each person whose name appears thereon who shall be certified by the council to the State Treasurer as qualified for the office of director of such division. The detailed qualifications of each person so named by the council shall be contained in such certification.
Any director so appointed shall serve without term but may be removed from office (a) by the State Treasurer, for cause, upon notice and opportunity to be heard at a public hearing, or (b) by the State Investment Council, if seven or more members thereof shall vote for such director's removal from office.
Any vacancy occurring in the office of the Director of the Division of Investment shall be filled in the same manner as the original appointment.
The director of said division shall devote his entire time and attention to the duties of his office and shall not be engaged in any other occupation or profession. Notwithstanding any other provision of law to the contrary, the State Treasurer shall determine the salary of the director.
L.1950,c.270,s.6; amended 1998, c.38, s.2; 2021, c.138.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-84.1 - Deputy Directors of Division of Investment.

52:18A-84.1 Deputy Directors of Division of Investment.
1. The State Treasurer shall, whenever he shall deem the same necessary, designate no more than two Deputy Directors of the Division of Investment, who shall be a person or persons qualified by training and experience to undertake such an office, and who shall serve as deputy director unless and until disapproved in writing by the State Investment Council. A second deputy director shall be designated only under the conditions set forth in this section. The State Treasurer's designation shall be in writing and shall be filed with the Secretary of State. The State Treasurer may at any time change or cancel one or both designations, which change or cancellation shall be in writing and shall be filed with the Secretary of State.
A Deputy Director of the Division of Investment shall have and exercise such of the powers and perform such of the functions and duties of the director as the director shall authorize and direct. Any such authorization and direction shall be in writing, signed by the State Treasurer and by the Director of the Division of Investment, and filed with the Secretary of State, and shall include a designation of the period during which it shall be and remain in force. No such authorization and direction shall be deemed to preclude the director himself from exercising the powers and the performance of the duties included in said authorization and direction. In the event that a vacancy occurs in the office of the director for any cause whatsoever, the person then holding the office of deputy director shall continue to hold such office and shall exercise the powers and perform the functions and duties of the director until the successor to the director shall be appointed and shall qualify.
The State Treasurer may designate a second deputy director of the division for a period not to exceed six months in anticipation of a vacancy in the director's position provided that the person so designated shall be the person the State Treasurer shall appoint as the Director of the Division of Investment pursuant to section 6 of P.L.1950, c.270 (C.52:18A-84) within or at the conclusion of the six-month period.
Notwithstanding any other provision of law to the contrary, the State Treasurer shall determine the salary for the position of deputy director the amount of which shall not exceed 95% of the salary of the director.
L.1974,c.36,s.1; amended 1998, c.38, s.3.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-85 - Transfer of certain powers, duties; exceptions.

52:18A-85 Transfer of certain powers, duties; exceptions.
7. The functions, powers and duties vested by law in the following enumerated agencies:
The Board of Trustees of the Public Employees' Retirement System; the Board of Trustees of the State Police Retirement System; the Prison Officers' Pension Commission; the Board of Trustees of the Teachers' Pension and Annuity Fund; and the Consolidated Police and Firemen's Pension Fund Commission; of, or relating to, investment or reinvestment of moneys of, and purchase, sale or exchange of any investments or securities of or for any funds or accounts under the control and management of such agencies, are hereby transferred to and shall be exercised and performed for such agencies by the Director of the Division of Investment established hereunder. Notwithstanding this provision, the Board of Trustees of the Police and Firemen's Retirement System shall have the authority to direct investment policy. The purchase, sale or exchange of any investments or securities under the control and management of the Board of Trustees of the Police and Firemen's Retirement System shall be exercised and performed by the Director of the Division of Investment. Notwithstanding this provision, Common Pension Fund L and the assets held by Common Pension Fund L as of the effective date of this Act and thereafter, including the interest of the Police and Firemen's Retirement System of New Jersey therein shall remain within the Division of Investment. The Division of Investment, the Director of the Division of Investment and the State Investment Council shall retain all functions, powers, and duties relating to Common Pension Fund L assigned to the Division of Investment, the Director of the Division of Investment, and the State Investment Council, by P.L. 2017, c. 98 (C.5:9-22.5 et seq.).
L.1950, c.270, s.7; amended 1954, c.108, s.1; 1966, c.189, s.2; 1970, c.57, s.17; 2018, c.55, s.35.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-86 - Powers and duties relating to investment of certain funds to be performed by Director of Division of Investment

52:18A-86. Powers and duties relating to investment of certain funds to be performed by Director of Division of Investment
The functions, powers and duties of, or relating to, investment or reinvestment of moneys of, and purchase, sale or exchange of, any investments or securities of or for, any of the following funds, namely:
The 1837 Surplus Revenue Fund;
The Veterans Loan Guaranty and Insurance Fund;
The Stock Workmen's Compensation Security Fund;
The Mutual Workmen's Compensation Security Fund; and
The Motor Vehicle Liability Security Fund;
and the functions, powers and duties of, or relating to, investment or reinvestment of moneys and purchase, sale or exchange of any investments or securities pursuant to the provisions of chapter 148 of the laws of 1944, and chapter 158 of the laws of 1947; are hereby transferred to and shall be exercised and performed by the Director of the Division of Investment established hereunder; provided, however, that before any investment, reinvestment, purchase, sale or exchange may be made by said director pursuant to the provisions of this section, he shall submit the details thereof to the State Treasurer, who shall, within 48 hours, exclusive of Sundays and public holidays, after such submission to him, file with the director his written acceptance or rejection of such proposed investment, reinvestment, purchase, sale or exchange; and the director shall have authority to make such investment, reinvestment, purchase, sale or exchange unless there shall have been filed with him a written rejection thereof by the State Treasurer as herein provided.
L.1950, c. 270, p. 921, s. 8. Amended by L.1952, c. 272, p. 924, s. 2; L.1953, c. 115, p. 1301, s. 1; L.1954, c. 108, p. 580, s. 2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-86.1 - Acceptance, investment of moneys

52:18A-86.1. Acceptance, investment of moneys
3. The Director of the Division of Investment is authorized to accept, for purposes of investment, moneys from any joint self-insurance fund established by any school board insurance group pursuant to P.L.1983, c.108 (C.18A:18B-1 et seq.) and moneys from any joint insurance fund established by two or more units of local government, including contracting units, pursuant to P.L.1983, c.372 (C.40A:10-36 et seq.). All moneys accepted by the director pursuant to this section shall be invested on behalf of the funds in accordance with the standards governing the investment of other funds managed under the rules and regulations of the State Investment Council. Moneys accepted by the director pursuant to subsection c. of section 3 of P.L.1983, c. 372 (C.40A:10-38) may be invested and reinvested pursuant to the written directions of the commissioners, signed by an authorized officer of the joint insurance fund, or any investment or asset manager designated by them. The commissioners shall provide a written notice to the director detailing the extent of the authority delegated to the investment or asset manager so designated to act on behalf of the joint insurance fund.
L.1992,c.53,s.3; amended 1995,c.374,s.2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-87 - State Disability Benefits Fund; Trustees for Support of Public Schools; investments by Director of Division of Investment

52:18A-87. State Disability Benefits Fund; Trustees for Support of Public Schools; investments by Director of Division of Investment
The functions, powers and duties vested by law in the Board of Trustees of the State Disability Benefits Fund and the Trustees for the Support of Public Schools, of, or relating to, investment or reinvestment of moneys of, and purchase, sale or exchange of any investments or securities of or for, any funds or accounts under the control and management of such agencies, are hereby transferred to and shall be exercised and performed for such agencies by the Director of the Division of Investment established hereunder; provided, however, that before any such investment, reinvestment, purchase, sale or exchange may be made by said director for or on behalf of any such agency, he shall submit the details thereof to the State Treasurer, who shall, within forty-eight hours, exclusive of Sundays and public holidays, after such submission to him, file with the director his written acceptance or rejection of such proposed investment, reinvestment, purchase, sale or exchange; and the director shall have authority to make such investment, reinvestment, purchase, sale or exchange, for or on behalf of such agency, unless there shall have been filed with him a written rejection thereof by the State Treasurer as herein provided.
L.1950, c. 270, p. 922, s. 9.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-88.1 - Investment, reinvestment of moneys on behalf of specified agencies.

52:18A-88.1 Investment, reinvestment of moneys on behalf of specified agencies.
1. The Director of the Division of Investment, in addition to other investments, presently or from time to time hereafter authorized by law, shall have authority to invest and reinvest the moneys in, and to acquire for or on behalf of the funds of the following enumerated agencies:
The Consolidated Police and Firemen's Pension Fund;
The Police and Firemen's Retirement System of New Jersey;
The Prison Officers' Pension Fund;
The Public Employees' Retirement System of New Jersey;
The State Police Retirement System;
The Teachers' Pension and Annuity Fund;
The Judicial Retirement System of New Jersey;
The Trustees for the Support of Public Schools;
and all other funds in the custody of the State Treasurer, unless otherwise provided by law;
such investments which shall be authorized or approved for investment by regulation of the State Investment Council, or in the case of the Police and Firemen's Retirement System of New Jersey, by regulation of the Board of Trustees of the Police and Firemen's Retirement System of New Jersey, except that notwithstanding this provision, Common Pension Fund L and the assets held by Common Pension Fund L as of the effective date of this Act and thereafter, including the interest of the Police and Firemen's Retirement System of New Jersey therein shall remain within the Division of Investment. The Director of the Division of Investment and the State Investment Council shall retain all functions, powers, and duties relating to Common Pension Fund L assigned to the Division of Investment, the Director of the Division of Investment, and the State Investment Council, by P.L. 2017, c. 98 (C.5:9-22.5 et seq.).
L.1959, c.17, s.1; amended 1970, c.57, s.18; 1972, c.176; 1997, c.26, s.25; 2013, c.253, s.39; 2018, c.55, s.36.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.4 - Findings, declarations

52:18A-89.4. Findings, declarations
The Legislature finds and declares that:
a. The State of New Jersey is cognizant of the unacceptable high unemployment levels in Northern Ireland and the attendant ills which arise from such a situation; and
b. The State wishes to support investment in Northern Ireland if certain minimal equal opportunity criteria are met.
L. 1987, c. 177, s. 1.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.5 - Standards for corporate activity

52:18A-89.5. Standards for corporate activity
Notwithstanding any law, rule or regulation to the contrary, the Director of the Division of Investment in the Department of the Treasury is authorized and directed to investigate the extent to which United States corporations or their subsidiaries doing business in Northern Ireland, in which the assets of any State pension or annuity fund are invested, adhere to principles of nondiscrimination in employment and freedom of workplace opportunity. In making this determination, the director shall consider, without limitation, the following standards for corporate activity:
a. Increasing the representation of individuals from underrepresented religious groups in the workforce, including managerial, supervisory, administrative, clerical and technical jobs;
b. Adequate security for the protection of minority employees both at the workplace and while traveling to and from work;
c. The banning of provocative religious or political emblems from the workplace;
d. All job openings should be publicly advertised and special recruitment efforts should be made to attract applicants from underrepresented religious groups;
e. Layoff, recall and termination procedures should not in practice favor particular religious groups;
f. The abolition of job reservations, apprenticeship restrictions and differential employment criteria, which discriminate on the basis of religion or ethnic origin;
g. The development of training programs that will prepare substantial numbers of current minority employees for skilled jobs, including the expansion of existing programs and the creation of new programs to train, upgrade and improve the skills of minority employees;
h. The establishment of procedures to assess, identify and actively recruit minority employees with potential for further advancement;
i. The appointment of a senior management staff member to oversee the company's affirmative action efforts and the setting up of timetables to carry out affirmative action principles.
The director may use information disseminated by, or surveys or reports of, international, national, independent, state or city agencies if, in the opinion of the State Investment Council, the information, survey or report satisfies the requirements of this section.
L. 1987, c. 177, s. 2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.6 - Annual report

52:18A-89.6. Annual report
The director shall report the results of the investigation to the Governor and the Legislature not later than January 15 of each year. The report shall include but not be limited to the names and addresses of all United States corporations operating in Northern Ireland in which the assets of any pension or annuity fund are invested, and the findings of the director relative to those corporations' adherence to the standards for corporate activity set forth in section 2 of this act. The director shall also report his recommendations, if any, based upon the findings of the investigation. The report shall be available for public inspection in the office of the Clerk of the General Assembly and of the Secretary of the Senate and in the office of the director.
L. 1987, c. 177, s. 3.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.7 - Encouragement of adherence by corporations

52:18A-89.7. Encouragement of adherence by corporations
The director shall, where necessary, appropriate, and consistent with prudent standards for fiduciary practice, initiate and support shareholder petitions or initiatives requiring adherence by the corporation to the standards set forth in section 2 of this act.
L. 1987, c. 177, s. 4.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.8 - Investments in Israeli obligations

52:18A-89.8. Investments in Israeli obligations
1. Notwithstanding the provisions of section 11 of P.L.1950, c.270 (C.52:18A-89) or any other law, rule or regulation to the contrary, the Director of the Division of Investment in the Department of the Treasury shall have the authority to invest and reinvest the assets of any pension or annuity fund under the jurisdiction of the division in securities at fair market value issued and unconditionally guaranteed as to interest and principal by the State of Israel.
L.1995,c.175,s.1.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.9 - Pension, annuity funds, certain, investment in company with equity ties to Sudan, certain; prohibited.

52:18A-89.9 Pension, annuity funds, certain, investment in company with equity ties to Sudan, certain; prohibited.
2. Notwithstanding any provision of law to the contrary, no assets of any pension or annuity fund under the jurisdiction of the Division of Investment in the Department of the Treasury, or its successor, shall be invested in any foreign company with an equity tie to government of Sudan or its instrumentalities and is engaged in business in or with the same. The provisions of this section shall not apply to the activities of any foreign company providing humanitarian aid to the Sudanese people through either a governmental or non-governmental organization.
As used in this section, "equity tie" means manufacturing or mining plants, employees or advisors, facilities or an investment, fiduciary, monetary or physical presence of any kind; and "humanitarian aid" means the provision of goods and services intended to relieve human suffering or to promote the general welfare, health, and religious and spiritual activities.
L.2005,c.162,s.2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.10 - Sale, redemption, divestiture, withdrawal from certain investments; time.

52:18A-89.10 Sale, redemption, divestiture, withdrawal from certain investments; time.
3. The State Investment Council and the Director of the Division of Investment shall, after reviewing the recommendations of, and consulting with, an independent research firm that specializes in global security risk for portfolio determinations selected by the Treasurer, take appropriate action to sell, redeem, divest or withdraw any investment held in violation of the provisions of this act. This act shall not be construed to require the premature or otherwise imprudent sale, redemption, divestment or withdrawal of an investment, but such sale, redemption, divestment or withdrawal shall be completed not later than three years following the effective date of this act.
L.2005,c.162,s.3.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.11 - Reports to Legislature; contents.

52:18A-89.11 Reports to Legislature; contents.
4. Within 60 days after the effective date of this act, the Director of the Division of Investment shall file with the Legislature a report of all investments held as of the effective date of this act which are in violation of the provisions of this act. Every year thereafter, the director shall report on all investments sold, redeemed, divested or withdrawn in compliance with this act.
Each report after the initial report shall provide: a description of the progress which the division has made since the previous report and since the enactment of this act in implementing the provisions of section 2 of this act.
L.2005,c.162,s.4.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.15 - Department of the Treasury use of qualified minority and women-owned financial institutions

52:18A-89.15. Department of the Treasury use of qualified minority and women-owned financial institutions
1. a. The Director of the Division of Investment in the Department of the Treasury shall, subject to and consistent with the director's fiduciary duties and the standard for prudent investment set forth in section 11 of P.L.1950, c.270 (C.52:18A-89), attempt to use to the greatest extent feasible qualified minority and women-owned financial institutions to provide brokerage and investment management services.
b. As used in this section:
"Qualified minority and women-owned financial institution" means a financial institution qualified to engage in State investment transactions that has a valid certification as a "minority business" or a "women's business" pursuant to P.L.1986, c.195 (C.52:27H-21.17 et seq.).
L.2019, c.2, s.1.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-89.16 - Assets of pension, any annuity fund under the Division of Investment, Department of Treasury, prohibited from investment in listed entity with certain ties to Russia, Belarus.

52:18A-89.16 Assets of pension, any annuity fund under the Division of Investment, Department of Treasury, prohibited from investment in listed entity with certain ties to Russia, Belarus.
6. a. Notwithstanding any provision of law to the contrary, except section 11 of P.L.1950 c.270 (C.52:18A-89), as amended, no assets of any pension or annuity fund under the jurisdiction of the Division of Investment in the Department of the Treasury, or its successor, shall be invested directly in a company included in the Department of the Treasury's list created pursuant to subsection b. of section 1 of P.L.2022, c.3 (C.52:32-60.1) for engaging in prohibited activities in Russia or Belarus.
b. The State Investment Council and the Director of the Division of Investment shall take appropriate action to sell, redeem, divest, or withdraw any investment held in violation of subsection a. of this section. Any appropriate action to sell, redeem, divest, or withdraw any investment shall be completed not later than one year following the date that such investment is identified as being in violation of subsection a. of this section, provided that if such sale, redemption, divestment, or withdrawal within such one-year period would be premature or otherwise imprudent and inconsistent with the requirements of section 11 of P.L.1950 c.270 (C.52:18A-89), as amended, such sale, redemption, divestment, or withdrawal shall be completed as soon thereafter as such requirements are met.
c. Within 90 days after the effective date of P.L.2022, c.3 (C.52:32-60.1 et al.), the Director of the Division of Investment shall file with the Legislature, pursuant to section 2 of P.L.1991, c.164 (C.52:14-19.1), a report of all investments held as of the effective date that are in violation of subsection a. of this section.
d. State Investment Council members, jointly and individually, and State officers and employees involved therewith, shall be indemnified and held harmless by the State of New Jersey from all claims, demands, suits, actions, damages, judgments, costs, charges, and expenses, including court costs and attorney's fees, and against all liability, losses, and damages of any nature whatsoever that these State Investment Council members, and State officers and employees, shall or may at any time sustain by reason of any decision to restrict, reduce, or eliminate investments pursuant to this act.
L.2022, c.3, s.6.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-90 - Employees of State Investment Council

52:18A-90. Employees of State Investment Council
The State Treasurer, with the approval of the State Investment Council, shall assign to the Division of Investment such employees in the Department of the Treasury as may be necessary to assist the director in the performance of his duties and for the efficient operation of the work of the division.
L.1950, c. 270, p. 924, s. 12.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-90.1 - Common trust fund

52:18A-90.1. Common trust fund
Notwithstanding any statute or rule of law to the contrary, the Director of the Division of Investment may, subject to the approval of the State Investment Council and the State Treasurer, establish, maintain and operate one or more common trust funds, in which may be combined for the purpose of investment, money and property belonging to the various funds in the custody of the State Treasurer; provided, however, that there shall not be combined in any common trust fund, excepting the State of New Jersey Cash Management Fund established pursuant to section 1 of this amendatory and supplementary act, moneys and property of any fund the income of which inures to the benefit of the General State Fund and money and property of any fund the income of which inures to the benefit of said fund.
L.1970, c. 270, s. 1, eff. Nov. 4, 1970. Amended by L.1977, c. 281, s. 2, eff. Nov. 2, 1977.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-90.2 - Record of capital contributions of participating funds with income inuring to benefit of general state fund

52:18A-90.2. Record of capital contributions of participating funds with income inuring to benefit of general state fund
In any common trust fund where the income of the participating funds inures to the benefit of the General State Fund, the participating capital contributions of said funds shall be evidenced by appropriate entries on records maintained by the Bureau of Accounting in the Division of Budget and Accounting, Department of the Treasury.
L.1970, c. 270, s. 2, eff. Nov. 4, 1970.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-90.3 - Certificates of ownership in common trust fund; distributions

52:18A-90.3. Certificates of ownership in common trust fund; distributions
In any common trust fund where the income of the participating funds inures to the benefit of the participating funds, ownership in the common trust fund shall be delineated by units which shall be evidenced by certificates issued by the Director of the Division of Investment.
Any and all interest and cash dividends received by such common trust fund shall be distributed monthly to the participating funds in the proportion of the number of units owned by each such fund. The State Investment Council may, from time to time, designate as income to the participating funds, such amounts of the realized appreciation of principal to the common trust fund as it may deem prudent. Such income shall be distributed to the participating funds in the proportion of the number of units owned by each fund. The valuation of each unit in the common trust fund shall be determined in a manner to be established by regulation of the State Investment Council.
L.1970, c. 270, s. 3, eff. Nov. 4, 1970.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-90.4a - Definitions used in C.52:18A-90.4.

52:18A-90.4a Definitions used in C.52:18A-90.4.
4. As used in section 1 of P.L.1977, c.281 (C.52:18A-90.4):
"Branch office" means an office at a fixed location other than a principal office, however designated, at which any business that may be conducted in a principal office of a bank may be transacted.
"Clearinghouse" means an association of banks or other payors regularly settling mutual claims, accounts and other items such as securities, payments and income.
"Custodian," "primary custodian," "fiscal agent" and "primary fiscal agent" means a bank which is selected by the State Treasurer to perform fiduciary functions in the maintenance of public trust funds and assets.
"Depository" means a separately incorporated bank or association of banks which serves as a temporary trustee for securities on behalf of a custodian, sub-custodian, fiscal agent or sub-fiscal agent.
"Principal office" means the headquarters of a bank which is its principal place of business.
"Sub-custodian" or "sub-fiscal agent" means a bank, located in any state or country, to which a primary custodian or primary fiscal agent may delegate its duties and responsibilities.
L.2001,c.286,s.4.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-92 - Report of operations of Division of Investment

52:18A-92. Report of operations of Division of Investment
Not later than fifteen days after the close of each month, the Director of the Division of Investment shall cause to be prepared and make available to the State Treasurer, the State Investment Council, the press and the public, a report of the operations of the Division of Investment during said month. Each report shall include a detailed summary of investment, reinvestment, purchase, sale or exchange transactions, setting forth, among other things, the investments bought, sold and exchanged, the dates thereof, the prices paid and obtained, the names of the dealers involved, and a statement of the funds or accounts referred to herein.
L.1950, c. 270, p. 924, s. 14.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-93 - Bond of Director

52:18A-93. Bond of Director
Before entering upon his duties, the Director of the Division of Investment established hereunder shall give bond conditioned upon the faithful performance of his duties. The bond of the director shall be approved by the Attorney-General and shall be in a sum not less than one hundred thousand dollars ($100,000.00).
L.1950, c. 270, p. 925, s. 15.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-94 - Inconsistent laws

52:18A-94. Inconsistent laws
To the extent that the provisions of this act are inconsistent with the provisions of any other law, the provisions of this act shall be controlling.
L.1950, c. 270, p. 925, s. 16.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-95.1 - Division of Pensions renamed Division of Pensions and Benefits

52:18A-95.1. Division of Pensions renamed Division of Pensions and Benefits
36. The Division of Pensions in the Department of the Treasury, created and established by P.L.1955, c.70 (C.52:18A-95 et seq.), shall be known and be referred to as the Division of Pensions and Benefits. Any reference in a law, rule, regulation, judicial or administrative proceeding, or otherwise to the Division of Pensions shall mean and refer to the Division of Pensions and Benefits.
L.1992,c.41,s.36.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-96 - Transfer of agencies and their functions, powers, duties, equipment and records--exceptions

52:18A-96. Transfer of agencies and their functions, powers, duties, equipment and records--exceptions
The following agencies, namely the Board of Trustees of the Public Employees' Retirement System, the Prison Officers' Pension Commission, the Board of Trustees of the Teachers' Pension and Annuity Fund, the Board of Trustees of the Alcoholic Beverage Law Enforcement Officers' Pension Fund, the Board of Trustees of the Police and Firemen's Retirement System of New Jersey, and the Consolidated Police and Firemen's Pension Fund Commission, and all of their respective present functions, powers, duties, equipment and records, excepting, however, documents, records and equipment relating to their respective investments which documents, records and equipment shall remain in the Division of Investment of the Department of the Treasury, are hereby transferred to the Division of Pensions created and established hereunder in the Department of the Treasury.
L.1955, c. 70, p. 233, s. 2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-97 - Powers and duties of enumerated agencies continued

52:18A-97. Powers and duties of enumerated agencies continued
Except as is otherwise provided in this act, and in chapter 270 of the laws of 1950, as amended and supplemented; (1) each of the respective agencies enumerated in section 2 hereof shall continue to have all of the powers and shall exercise all of the functions and duties vested in, or imposed upon it by existing law; (2) this act shall not affect the terms of office of the present members of such agencies; and (3) such agencies shall continue to be constituted as provided by existing law.
L.1955, c. 70, p. 234, s. 3.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-98 - Authority to appoint, employ or remove personnel

52:18A-98. Authority to appoint, employ or remove personnel
The authority, vested pursuant to any law in any of the respective agencies, to appoint, employ or remove administrative, clerical or any other personnel, is hereby transferred to and vested in the State Treasurer. The State Treasurer shall fix the compensation and duties of persons appointed or employed by him.
L.1955, c. 70, p. 234, s. 4. Amended by L.1970, c. 57, s. 19, eff. May 18, 1970.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-99 - Director; appointment and qualifications; tenure and salary

52:18A-99. Director; appointment and qualifications; tenure and salary
The Division of Pensions established hereunder shall be headed, directed and supervised by a director, who shall be a person qualified by training and experience to direct the work of such division. The director of such division shall be appointed by the Governor, with the advice and consent of the Senate, and shall serve during the term of the Governor appointing him, and until the director's successor is appointed and has qualified. The Director of the Division of Pensions shall receive such salary as shall be provided by law.
L.1955, c. 70, p. 234, s. 5.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-100 - Functions, powers, duties of Director of Division of Investment not affected

52:18A-100. Functions, powers, duties of Director of Division of Investment not affected
Nothing in this act shall be construed or deemed to change, vary, or modify the provisions of chapter 270 of the laws of 1950, as amended and supplemented, vesting in the Director of the Division of Investment of the Department of the Treasury, the functions, powers and duties of the agencies enumerated in section 2 hereof, or relating to, investment or reinvestment of moneys of, and purchase, sale or exchange of any investments or securities of or for any funds or accounts under the control and management of such agencies, which functions, powers and duties aforementioned shall continue to be exercised by said Director of the Division of Investment.
L.1955, c. 70, p. 234, s. 6.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-101 - Personal rights not affected

52:18A-101. Personal rights not affected
Nothing in this act shall be construed to deprive any person of any tenure rights or of any right or protection provided him or her by Title 11 of the Revised Statutes, or under any pension law or retirement system.
L.1955, c. 70, p. 235, s. 7.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-105 - Affixing voucher signatures by machine

52:18A-105. Affixing voucher signatures by machine
Persons designated by chapter 13 of Title 18 of the Revised Statutes, chapter 37 of the laws of 1955, chapters 7 and 16 of Title 43 of the Revised Statutes, chapter 255 of the laws of 1944, chapter 423 of the laws of 1953 and chapter 84 of the laws of 1954, to sign vouchers for the payment of moneys from pension funds established pursuant to said statutes may delegate to the respective secretaries of said pension funds the authority to affix the signatures of such designated persons by means of a machine. Such delegation shall be in writing and filed with the Secretary of State.
L.1956, c. 63, p. 138, s. 1, eff. June 1, 1956.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-106 - Bond

52:18A-106. Bond
The secretary of each of said pension funds shall enter into bond with 2 or more sureties, to be approved by the State Treasurer, in the sum of $100,000.00 payable to the pension fund of which he is the secretary, conditioned for the faithful performance of his official duties. Such bond shall be filed in the office of the Secretary of State.
L.1956, c. 63, p. 138, s. 2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-107 - Purpose of act

52:18A-107. Purpose of act
The purpose of this act is to enable active members of the several State administered retirement systems to make voluntary additional contributions to provide annuities to supplement their retirement allowances provided by such systems.
L.1963, c. 123, s. 1, eff. July 1, 1963.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-108 - Definitions.

52:18A-108 Definitions.
2. As used in this act:
a. "Fiscal year" means any year commencing on July 1 and ending on June 30 next following.
b. "Participant" means (1) for the purposes of the Supplemental Annuity Collective Trust under section 4 of P.L.1965, c.90 (C.52:18A-113.1), any member of a State administered retirement system, who has elected to make voluntary additional contributions to the Supplemental Annuity Collective Trust, or for whom an employer has agreed to purchase an annuity from the Supplemental Annuity Collective Trust as hereinafter provided; or (2) for the purposes of the Additional Contributions Tax-Sheltered Program under section 1 of P.L.1995, c.92 (C.52:18A-113.2), means any employee of the Department of Education, the Commission on Higher Education, the governing body of any public institution of education, or any public school, as defined in N.J.S.18A:1-1, regularly scheduled to work 20 or more hours per week who has elected to make voluntary additional contributions to the Supplemental Annuity Collective Trust, or for whom an employer has agreed to purchase an annuity from the Supplemental Annuity Collective Trust as hereinafter provided. An employee regularly works less than 20 hours per week if, for the 12-month period beginning on the date the employee's employment commenced, the employee's employer reasonably expects the employee to work fewer than 1,000 hours of service, as defined under section 410(a)(3)(C) of the Internal Revenue Code of 1986 (26 U.S.C. s.410(a)(3)(C)), as amended, and, for each plan year ending after the close of that 12-month period, the employee has worked fewer than 1,000 hours of service.
c. "State administered retirement system" means any of the following retirement plans: Public Employees' Retirement System of New Jersey established pursuant to chapter 84, P.L.1954; Teachers' Pension and Annuity Fund established pursuant to chapter 37, P.L.1955; Police and Firemen's Retirement System of New Jersey established pursuant to chapter 255, P.L.1944; Consolidated Police and Firemen's Pension Fund established pursuant to chapter 358, P.L.1952; Prison Officers' Pension Fund established pursuant to chapter 220, P.L.1941; and State Police Retirement and Benevolent Fund established pursuant to chapter 188, P.L.1925.
L.1963, c.123, s.2; amended 1965, c.90, s.1; amended 2011, c.78, s.68.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-109 - Supplementary annuity program; establishment; contributions

52:18A-109. Supplementary annuity program; establishment; contributions
Each State administered retirement system shall establish, as a part thereof, a supplementary annuity program under which it will receive voluntary contributions from its members, which shall be in addition to any contributions required of them by that retirement system, for the purpose of providing annuities to supplement their retirement allowances. Each such State administered retirement system shall, upon receipt of such contributions, place the same in the Supplemental Annuity Collective Trust, hereinafter described.
L.1963, c. 123, s. 3.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-110 - Supplemental annuity collective trust; establishment; duties; divisions

52:18A-110. Supplemental annuity collective trust; establishment; duties; divisions
There is hereby established in the Department of the Treasury the Supplemental Annuity Collective Trust of New Jersey, which shall accept amounts received for supplemental annuities from the State administered retirement systems and combine the same for purposes of this act. The Supplemental Annuity Collective Trust shall also accept amounts paid by employers for the purchase of annuities on behalf of employees as hereinafter provided. The funds paid by employers to purchase annuities for their employees shall be accounted for separately from other funds received by the Supplemental Annuity Collective Trust. The Supplemental Annuity Collective Trust hereby established shall consist of a Variable Division and a Fixed Division.
L.1963, c. 123, s. 4. Amended by L.1965, c. 90, s. 2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-111 - Supplemental Annuity Collective Trust

52:18A-111. Supplemental Annuity Collective Trust
In order to facilitate the administration of the supplemental annuity programs of the State administered retirement systems, the State administered retirement systems shall vest the general responsibility for control and management of their supplemental annuity programs in the Supplemental Annuity Collective Trust under the direction of a council consisting of the State Treasurer, who shall be the chairman, the Commissioner of the Department of Insurance, and the State Budget Director. In the event of a vacancy in one of the above enumerated offices, the official assuming the responsibility of that office shall act as a member of the council.
The Director of the Division of Pensions shall be the secretary of the council. The administration of the programs shall be performed by the personnel of the Division of Pensions and the costs of administration shall be borne by the State.
The Attorney General shall be the legal advisor of the council.
The council shall retain the services of an actuary. The actuary shall make an actuarial review of the Supplemental Annuity Collective Trust at least once in every three-year period and at such other times as the council, in its discretion, shall deem advisable.
The council shall promulgate such rules and regulations, not inconsistent with the provisions of this act, as it shall deem necessary for the effective operation of the trust.
The council shall publish annually a report of its operations and the financial condition of the Supplemental Annuity Collective Trust. It shall also give each participant who has not commenced to receive annuity payments an annual statement of his account.
The council shall not commingle the assets of the Variable Division and the assets of the Fixed Division.
The records of the Supplemental Annuity Collective Trust shall be subject to audit by the State Auditor.
L. 1963,c.123, s.5; amended by L. 1987,c.330,s.2.
2023 New Jersey Revised Statutes › Title 52 - State Government, Departments and Officers › Section 52:18A-112 - Participation; application for enrollment.

52:18A-112 Participation; application for enrollment.
6. A member of a State administered retirement system or an employee of a board of education, as defined in N.J.S.18A:1-1, regularly scheduled to work 20 or more hours per week may become a participant by filing an application for enrollment in either the Variable Division or the Fixed Division, or both, in accordance with rules and regulations established by the council. An employee regularly works less than 20 hours per week if, for the 12-month period beginning on the date the employee's employment commenced, the employee's employer reasonably expects the employee to work fewer than 1,000 hours of service, as defined under section 410(a)(3)(C) of the Internal Revenue Code of 1986 (26 U.S.C. s.410(a)(3)(C)), and, for each plan year ending after the close of that 12-month period, the employee has worked fewer than 1,000 hours of service.
L.1963, c.123, s.6; amended 2011, c.78, s.69.