reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-12.3 - Designation of beneficiary; payment of benefits

43:16A-12.3. Designation of beneficiary; payment of benefits
The designation of beneficiary by a member or retirant shall be made in writing on a form satisfactory to the retirement system, and filed with the retirement system. The member or retirant may, from time to time and without the consent of his death benefit designee, change the beneficiary by filing written notice of the change with the system on a form satisfactory to it. The new nomination will be effective on the date the notice, in proper form, is received by the system, and any prior nomination shall thereupon become void.
If more than one beneficiary is nominated and in such nomination the member or retirant has failed to specify their respective interests, the beneficiaries shall share equally. If any beneficiary predeceases the member or retirant, the interest of such beneficiary shall terminate and shall be shared equally by such of the beneficiaries as survive the member or retirant, unless the member or retirant has made written request to the contrary in his beneficiary nomination.
Any amounts due for which there is no beneficiary at the death of a member, retirant or beneficiary shall be payable to the estate of such member, retirant or beneficiary.
Except with regard to the payment of the member's accumulated deductions and the payment, upon the death of a retirant after attaining the age of 55 years, of the death benefits provided in sections 5, 6, 7(3), 9 and 10(5) of chapter 255 of the laws of 1944 and sections 16 and 17 of chapter 241 of the laws of 1964, a member may elect, by making written request to the retirement system, that the whole or any part of his death benefits be made payable to his beneficiary either as a life annuity or in equal installments over a period of years specified in such election, and may alter such election from time to time during his lifetime by again making such written request. In the event of a change of beneficiary, any previous arrangement by the member or retirant under this paragraph shall be void. The election set forth in this paragraph shall not apply or be available when the beneficiary is an estate, or a corporation, partnership, association, institution, trustee, or any fiduciary.
If, at the member's or retirant's death, an amount of death benefit would be payable to the beneficiary in a single sum, any election with regard to such amount which was available to the member or retirant immediately prior to his death in accordance with the provisions of the immediately preceding paragraph shall then be available to such beneficiary for the benefit of such beneficiary.
The provisions of this section shall be construed separately with respect to each of the death benefits for which a beneficiary is designated by the member or retirant.
L.1967, c. 250, s. 28, eff. Dec. 18, 1967.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-12.4 - Requirements for receipt of death benefits; minimum amount of benefit payable

43:16A-12.4. Requirements for receipt of death benefits; minimum amount of benefit payable
Any other provision of this act notwithstanding, (a) no beneficiary of a pensioner who enrolled as a member on or after July 1, 1971 and who retired for any reason other than disability shall be entitled to receive benefits pursuant to the death benefit coverages provided by section 5 of chapter 255 of the laws of 1944 and sections 16 and 17 of chapter 241 of the laws of 1964, if the pensioner had less than 10 years of service credit for retirement purposes at the time of retirement; and (b) no member or beneficiary shall be entitled to receive a monthly retirement allowance or other benefit payable pursuant to this chapter unless the amount of the allowance or benefit would be at least $25.00 per month.
L.1971, c. 175, s. 19, eff. June 1, 1971.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-13a - Transfer of certain powers, functions, duties.

43:16A-13a Transfer of certain powers, functions, duties.
38. All of the present functions, powers, and duties relating to the Police and Firemen's Retirement System of New Jersey in the Division of Pensions and Benefits in the Department of the Treasury are hereby transferred to the Board of Trustees of the Police and Firemen's Retirement System of New Jersey, except that the Board of Trustees of the Police and Firemen's Retirement System of New Jersey may contract with the Division of Pensions and Benefits in the Department of the Treasury to effectuate the goals of this Act. The Department of the Treasury and the Division of Investment shall retain all functions, powers, duties, equipment and records relating to Common Pension Fund L assigned to the Department of the Treasury and the Division of Investment by P.L. 2017, c.98 (C.5:9-22.5 et seq.). Copies of records relating to the Police and Firemen's Retirement System of New Jersey in the Division of Pensions and Benefits in the Department of the Treasury and the Division of Investment shall be made available to the Board of Trustees of the Police and Firemen's Retirement System of New Jersey upon request.
L.2018, c.55, s.38.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15a - State liable for increased cost to government employers for veterans of operations Restore Hope, Joint Endeavor and Joint Guard

43:16A-15a. State liable for increased cost to government employers for veterans of operations Restore Hope, Joint Endeavor and Joint Guard
5. The State shall be liable for any increased cost to local government employers participating in the Police and Firemen's Retirement System, established pursuant to P.L.1944, c.255 (C.43:16A-1 et seq.), as a result of the provisions of this act, P.L.2001, c.128.
L.2001,c.128,s.5.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15.1 - Compulsory enrollment in retirement system; purchase of membership credit; contributions

43:16A-15.1. Compulsory enrollment in retirement system; purchase of membership credit; contributions
a. In the case of any person who (1) was required to become a member of the retirement system as a condition of employment, and whose application for enrollment in the retirement system or whose application for transfer from one employer to another within the system was filed beyond the effective date for his compulsory enrollment in the system or his transfer within the system or (2) is eligible for membership on the basis of special legislation, such person shall be required to purchase membership credit for his compulsory coverage by paying into the annuity savings fund the amount required by applying, in accordance with section 15 of chapter 255 of the laws of 1944, his full rate of contribution on his current base salary subject to the retirement system for each year of previous service during which he was required to have been a member.
b. If more than 1 year has elapsed from the time that contributions would have been required from such person, 1/2 of the employee's cost, established by the computation provided by subsection a. of this section, will be required of his employer and shall be included in the next budget subsequent to the certification of this special liability by the retirement system. The amount certified by the system shall be payable by the employer to the pension accumulation fund and shall be due and owing to the system even if the employee is no longer in the employ of the employer by the date such moneys are to be paid to the system.
c. The employee's obligation may be satisfied by regular installments, equal to at least 1/2 the normal contribution to the retirement system, over a maximum period of 10 years.
d. In the case of any person coming under the provisions of this section, full pension credit for the period of employment for which arrears are being paid by the employee shall be given upon the payment of at least 1/2 of the total employee's arrearage obligation and the completion of 1 year of membership and the making of such arrears payments, except that in the case of retirement pursuant to section 5 of chapter 255 of the laws of 1944 and sections 16 and 17 of chapter 241 of the laws of 1964, the total membership credit for such service shall be in direct proportion as the amount paid bears to the total amount of the arrearage obligation of the employee.
L.1967, c. 250, s. 29, eff. Dec. 18, 1967. Amended by L.1971, c. 175, s. 17, eff. June 1, 1971.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15.2 - Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application

43:16A-15.2. Periodic benefits payable under Workers' Compensation Law; salary deductions paid by employer; retirement benefits application
30. a. If any member of the retirement system receives periodic benefits payable under the Workers' Compensation Law during the course of his active service, in lieu of his normal compensation, his regular salary deductions shall be paid to the retirement system by his employer. Such payments shall be computed, in accordance with section 15 of P.L.1944, c.255 (C.43:16A-15), at the rate of contribution on the base salary subject to the retirement system, just prior to the receipt of the workers' compensation benefits. The moneys paid by the employer shall be credited to the member's account in the annuity savings fund and shall be treated as employee contributions for all purposes. The employer will terminate the payment of these moneys when the periodic benefits payable under the Workers' Compensation Law are terminated or when the member retires.
The member for whom the employer is making such payments, will be considered as if he were in the active service.
b. An application for retirement benefits may be approved by the board of trustees while the member, applying for such benefits, is in receipt of periodic benefits under the Workers' Compensation Law. If a retirant receiving an accidental disability retirement allowance becomes a recipient of periodic benefits under the workers' compensation law after the date of retirement, the pension portion of the retirement allowance payable to the retirant shall be reduced, during the period of the payment of the periodic benefits, dollar-for-dollar in the amount of the periodic benefits received after the date of retirement, subject to the provisions of section 19 of P.L.1971, c.175 (C.43:16A-12.4). The reduction provided for herein shall not affect the retirant's pension adjustment benefits or survivor benefits that may be payable upon the death of the retirant.
If an accidental disability retirant receives a retirement allowance without reduction and periodic benefits under the workers' compensation law for any period of time after the date of retirement, the retirant shall repay to the retirement system the amount of the pension portion of the retirement allowance which should have been subject to reduction under this subsection. The repayment may be in the form of a lump sum payment or scheduled as deductions from the retirant's retirement allowance and pension adjustment benefits. If the retirant dies before full repayment of the amount required, the remaining balance shall be deducted from any death benefits payable on behalf of the retirant.
L.1967,c.250,s.30; amended 1971,c.175,s.18; 1995,c.369,s.3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15.3 - Reemployment of retiree; cancellation of benefits; reenrollment.

43:16A-15.3 Reemployment of retiree; cancellation of benefits; reenrollment.
20. a. Except as provided in subsection b. of this section, if a former member of the retirement system who has been granted a retirement allowance for any cause other than disability, becomes employed again in a position which makes him eligible to be a member of the retirement system, his retirement allowance and the right to any death benefit as a result of his former membership, shall be canceled until he again retires.
Such person shall be reenrolled in the retirement system and shall contribute thereto at a rate based on his age at the time of reenrollment. Such person shall be treated as an active member for determining disability or death benefits while in service. Upon subsequent retirement of such member, his former retirement allowance shall be reinstated based on his former membership. In addition, he shall receive an additional retirement allowance based on his subsequent service as a member computed in accordance with applicable provisions of this chapter; provided, however, that his total retirement allowance upon such subsequent retirement shall not be a greater proportion of his average final compensation or final compensation, whichever is applicable, than the proportion to which he would have been entitled had he remained in service during the period of his prior retirement. Any death benefit to which such member shall be eligible shall be based on his latest retirement, but shall not be less than the death benefit that was applicable to his former retirement.
b. The cancellation, reenrollment, and additional retirement allowance provisions of subsection a. of this section shall not apply to a former member of the retirement system who was granted a retirement allowance pursuant to section 1 of P.L.1999, c.96 (C.43:16A-5.1) prior to the effective date of P.L.2011, c.78.
L.1971, c.175, s.20; amended 1999, c.428, s.8; 2011, c.78, s.35.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15.4 - Accrued liability contribution of employer; payment

43:16A-15.4. Accrued liability contribution of employer; payment
The accrued liability contribution of any employer adopting the retirement system after July 1, 1988 for the purpose of providing prior service credit, shall be payable by the employer to the pension accumulation fund over the period selected by the employer, provided that the period may not exceed 40 years following the initial valuation of such liability by the actuary of the retirement system.
L.1971,c.175,s.21; amended 1989,c.204,s.6.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15.6 - Pension adjustment benefits; funding

43:16A-15.6. Pension adjustment benefits; funding
7. Pension adjustment benefits for members and beneficiaries of the Police and Firemen's Retirement System of New Jersey as provided by P.L.1958, c.143 (C.43:3B-1 et seq.) shall be paid by the retirement system from the contingent reserve fund and shall be funded as employer obligations in a similar manner to that provided for the funding of employer obligations for the retirement benefits provided by the retirement system. The funding shall be phased in as determined by the board of trustees after consultation with the Director of the Division of Pensions and the actuary, except that: a. the phase-in period shall begin with valuation year 1989 and shall be 30 years, and b. any reduction in contributions from recognition of the full market value of the assets as of June 30, 1989 over the adjusted book value of the assets written up by 60% of the excess of market value over adjusted book value as of June 30, 1989 in a fashion similar to that presented in the draft revision of the annual actuarial reports for the valuation periods ending June 30, 1989 and June 30, 1990 submitted by the actuary on April 27, 1992 shall be used to accelerate the funding of the liabilities for pension adjustment benefits.
L.1989,c.204,s.7; amended 1992,c.41,s.26.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-15.7 - Liability for increased pension and adjustments

43:16A-15.7. Liability for increased pension and adjustments
3. The actuary for the Police and Firemen's Retirement System shall determine for the valuation period of the retirement system in which this act takes effect the liability of the retirement system for the increased pension and pension adjustment benefits provided under this act for all participants of the retirement system as of the last day of the valuation period. This liability shall be added to the unfunded accrued liability of the retirement system and shall be paid by the State in the same manner and over the remaining time period provided for the State's unfunded accrued liability under section 15 of P.L.1944, c.255 (C.43:16A-15). The actuary shall determine annually thereafter the liability of the retirement system for the increased pension and pension adjustment benefits provided under this act for new participants which shall be included in the normal contribution paid by the State. The State shall pay the cost of the actuarial work to determine the additional liabilities of the retirement system for the benefits under this act.
L.1991,c.511,s.3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.1 - Loans to members, interest rates, repayment.

43:16A-16.1 Loans to members, interest rates, repayment.
18. 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 aggregate contributions, but not less than $50.00; provided that the amount so borrowed, together with interest thereon, can be repaid by additional deductions from salary, not in excess of 25% of the member's salary, made at the time the salary is paid to the member. The amount so borrowed, together with interest on any unpaid balance thereof, shall be repaid to the retirement system in equal installments by deductions from the salary of the member at the time the salary is paid or in such lump sum amount to repay the balance of the loan but such installments shall be at least equal to the member's rate of contribution to the retirement system and at least sufficient to repay the amount borrowed with interest thereon. Not more than two loans may be granted to any member in any calendar year. Notwithstanding any other law affecting the salary or compensation of any person or persons to whom this act applies or shall apply, the additional deductions required to repay the loan shall be made.
The rate of interest for a loan requested by a member prior to the effective date of P.L.2007, c.92 (C.43:15C-1 et al.) shall be 4% per annum on any unpaid balance thereof. For a loan requested after the effective date of that act, the rate of interest per annum shall be a commercially reasonable rate as required by the Internal Revenue Code to be determined by the State Treasurer on that effective date, and by the board of trustees on January 1 of each calendar year thereafter. An administrative fee in an amount set by the board of trustees 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 aggregate contributions. The interest earned on such loans shall be treated in the same manner as interest earned from investments of the retirement system.
L.1964, c.241, s.18; amended 1967, c.250, s.17; 1971, c.175, s.10; 1981, c.370, s.1; 2007, c.92, s.38; 2018, c.55, s.18.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.2 - Repayment of loans after retirement of member of PFRS.

43:16A-16.2 Repayment of loans after retirement of member of PFRS.
2. In the case of any member who retires without repaying the full amount so borrowed, the board of trustees 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.370, s.2; amended 1988, c.134, s.3; 1999, c.132, s.3; 2007, c.92, s.39; 2018, c.55, s.19.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.9 - Definitions

43:16A-16.9. Definitions
2. As used in this act:
"Mortgage loan" means any indebtedness secured by a mortgage on a residential property, which mortgage shall constitute a first lien on the property;
"Residential property" means any real property including land or, in the case of condominiums, an interest in a lot of land, which real property shall consist of a single one or two family dwelling, including appropriate garages or other outbuildings, or unimproved real property if the proceeds of the mortgage loan shall be used exclusively for the purposes of erecting such a single one or two family dwelling thereon.
L.1992,c.78,s.2.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.10 - Authority of board of trustees.

43:16A-16.10 Authority of board of trustees.
3. The board of trustees shall at all times have authority to invest and reinvest the monies in, and to acquire for or on behalf of, the Police and Firemen's Retirement System of New Jersey mortgage loans on residential property.
L.1992, c.78, s.3; amended 2018, c.55, s.20.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.12 - Administration of mortgage loan program.

43:16A-16.12 Administration of mortgage loan program.
5. The board of trustees shall delegate the administration of this mortgage loan program to the New Jersey Housing and Mortgage Finance Agency established under section 4 of P.L.1983, c.530 (C.55:14K-4). The agency shall: a. originate loans; b. appraise the value of any real property eligible to be mortgaged under this act; c. guarantee and insure title to the real property; and d. perform any other service necessary to accomplish the purposes of this act in a manner consistent with the protection of the rights of beneficiaries of the retirement system. The cost of the performance of these services in connection with the making of a mortgage loan shall be charged to the borrower and included in the amount of that mortgage loan.
L.1992, c.78, s.5; amended 2018, c.55, s.22.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.13 - Mortgage loan standards, guidelines.

43:16A-16.13 Mortgage loan standards, guidelines.
6. The board of trustees, with the advice of the New Jersey Housing and Mortgage Finance Agency, shall set mortgage loan standards and guidelines for loans made pursuant to this act, including mortgage loan maturity terms, participation fees, mortgage loan insurance requirements, lender compensation rates, servicing fees, loan-to-value ratios, minimum and maximum mortgage loan amounts and eligibility standards consistent with section 4 of this
L.1992, c.78, s.6; amended 2018, c.55, s.23.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.14 - Loan recipients to occupy residence

43:16A-16.14. Loan recipients to occupy residence
7. Any member receiving a mortgage loan pursuant to the provisions of this act shall, within 120 days of the date on which the loan was made, occupy the residence as his principal dwelling place. If any member receiving a mortgage loan pursuant to the provisions of this act sells, or ceases to occupy as his residence and principal dwelling place, that residential property, the entire amount of that mortgage loan, together with any accrued interest thereon, shall be due and payable on the 120th day following that action.
L.1992,c.78,s.7.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.15 - Availability of funds for mortgage loans

43:16A-16.15. Availability of funds for mortgage loans
8. a. Upon application of a member for a mortgage loan the director shall, within 90 days, make available to the New Jersey Housing and Mortgage Finance Agency sufficient funds to provide mortgage loans in accordance with the provisions of this act, except that no mortgage loan shall be made at any time when the total of all principal balances owing on mortgage loans made pursuant to this act, less all write-offs and reserves with respect to these mortgage loans, together exceeds, or by the making of the loan would exceed, 10% of the total investment assets, including mortgage loans, of the retirement system. Every mortgage loan made hereunder shall be evidenced by a note or bond and shall be secured by a mortgage on the fee of real property located within this State. Every mortgage shall be certified to be a first lien by an attorney-at-law of this State or certified or guaranteed to be a first lien by a corporation authorized to guarantee titles to land in this State. For the purposes of this section, a mortgage shall be deemed to be a first lien, notwithstanding the existence of a lien for current taxes or assessments not due or payable at the time the loan is made, and notwithstanding the existence of leases, building restrictions, easements, encroachments, or covenants which do not materially lessen the value of the real property to be mortgaged.
b. Pursuant to rules established by the State Treasurer, with the advice of the New Jersey Housing and Mortgage Finance Agency, no mortgage loan shall be made under this act except upon a written certification signed by at least two persons appointed or retained by the appraisers. In the case of a mortgage loan secured by a mortgage upon real property, such certification shall state the opinion of such persons as to the value of the land and the improvements thereon or to be erected thereon and the character of such improvements. Such certification shall be filed with the records of the retirement system and shall be preserved until the retirement system has no interest, as mortgagee or otherwise, in the real property.
c. No mortgage loan secured by a mortgage on real property shall be made unless the property shall consist of improved real property, or unimproved real property if the proceeds of such loan shall be used for the purposes of erecting improvements thereon.
L.1992,c.78,s.8.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-16.16 - Rules, regulations.

43:16A-16.16 Rules, regulations.
9. The board of trustees shall, with the advice of the Executive Director of the New Jersey Housing and Mortgage Finance Agency and in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), promulgate any rules and regulations necessary to accomplish the purposes of this act.
L.1992, c.78, s.9; amended 2018, c.55, s.24.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-17 - Exemption from taxes, garnishment, etc.; assignment of group insurance policy rights and benefits

43:16A-17. Exemption from taxes, garnishment, etc.; assignment of group insurance policy rights and benefits
The right of a person to a pension, an annuity, or a retirement allowance, to the return of contributions, any benefit or right accrued or accruing to a person under the provisions of this act and the moneys in the various funds created under this act, shall be exempt from any State or municipal tax and from levy and sale, garnishment, attachment or any other process, and except as hereinafter in this section and as in this act otherwise provided, shall be unassignable.
Nothing in this section shall prohibit any person insured under a group insurance policy, pursuant to an arrangement among the insured, the group policyholder and the insurer, from making to any person other than his employer, a gift assignment of the rights and benefits conferred on him by any provision of such policy or by law including specifically but not by way of limitation the right to exercise the conversion privilege and the right to name a beneficiary. Any such assignment, whether made before or after the effective date of this act, shall entitle the insurer to deal with the assignee as the owner of all rights and benefits conferred on the insured under the policy in accordance with the terms of the assignment.
L.1944, c. 255, p. 855, s. 17. Amended by L.1969, c. 98, s. 3, eff. June 26, 1969.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-17.1 - Deductions for health insurance from SHBP.

43:16A-17.1 Deductions for health insurance from SHBP.
19. If possible, whenever any beneficiary shall, in writing, request the board of trustees to make deductions from his retirement allowance or pension for the purpose of paying premiums for the pensioners' group health insurance plan or the State Health Benefits program, the board may make such deductions and transmit the sums so deducted to the companies carrying the policies. Any such written authorization may be withdrawn by any beneficiary upon filing notice of such withdrawal with the division.
L.1964, c.241, s.19; amended 1971, c.175, s.14; 2018, c.55, s.25.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-18 - False statements or records; punishment; correction of errors

43:16A-18. False statements or records; punishment; correction of errors
Any person who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of this retirement system in any attempt to defraud such system as a result of such act shall be guilty of a misdemeanor and shall be punishable therefor under the laws of the State of New Jersey. Should any change or error in the records result in any member or person receiving from the retirement system more or less than he would have been entitled to receive had the records been correct, the retirement system shall correct such error, and as far as practicable, shall adjust the payments in such manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid. The actuarial equivalent of any shortage in required contributions at the time of retirement on account of misstatement of age, leave of absence, or clerical error, shall be deducted from the retirement allowance otherwise payable.
L.1944, c. 255, p. 855, s. 18. Amended by L.1971, c. 175, s. 11, eff. June 1, 1971.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-19 - Other laws inapplicable

43:16A-19. Other laws inapplicable
No other provision of law in any other statute which provides wholly or partly at the expense of the State of New Jersey or of any county or municipality in the State for pensions or retirement benefits for policemen or firemen or county policemen, their widows, or other dependents, shall apply to members, or beneficiaries of the retirement system established by this act, their widows or other dependents.
L.1944, c. 255, p. 855, s. 19.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-20 - Application of act

43:16A-20. Application of act
The provisions of this act shall apply in such municipalities as at the effective date of this act there shall have been established a pension fund for policemen and firemen and in such counties as there shall have been established a pension fund for county police officers, and in any fire district located in a township in which there shall have been established a pension fund for firemen; which pension funds have been established under chapter sixteen of Title 43 of the Revised Statutes or under article four, chapter ten, of Title 43 of the Revised Statutes.
The provisions of this act shall apply to the policemen and firemen of any county, municipality or political subdivision thereof on and after January first following the adoption of this act by the voters of such county, municipality or political subdivision thereof as hereinafter provided.
L.1944, c. 255, p. 855, s. 20. Amended by L.1945, c. 148, p. 529, s. 8.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-22 - Other laws not affected

43:16A-22. Other laws not affected
The State Firemen's Relief Fund and the State Firemen's Association and the laws by virtue of which they exist and operate shall not be affected by the provisions of this act, nor shall anything in this act contained be construed to in anywise limit or interfere with the operation and effect of sections 38:23-4, 38:23-5 and 38:23-6 of the Revised Statutes.
L.1944, c. 255, p. 856, s. 22.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-23 - Violation of departmental regulations; convictions

43:16A-23. Violation of departmental regulations; convictions
No member who shall have served honorably in any such police or fire department for a period of twenty-five years and attained age fifty-five shall be deprived of his pension privileges under this act because of any violation of the rules and regulations established for the government of such department, but he may be fined, reprimanded or discharged. A member of the department found guilty before a court of competent jurisdiction may be dismissed or punished in any manner provided by law.
L.1944, c. 255, p. 856, s. 23. Amended by L.1945, c. 148, p. 529, s. 9.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-24 - Partial invalidity

43:16A-24. Partial invalidity
If any provision, section or part of any section of this act is declared to be unconstitutional, the same shall not be held to affect any other section or provision of this act, and the remainder of this act shall in nowise thereby be invalidated.
L.1944, c. 255, p. 857, s. 24.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-26 - Referendum; notice of adoption

43:16A-26. Referendum; notice of adoption
Upon the filing of a petition signed by at least ten per centum (10%) of the legal voters of any county, municipality or political subdivision thereof with the clerk of such county, municipality or political subdivision, as the case may be, the question of the adoption of the act of which this act is an amendment and supplement shall be submitted to the voters of such county, municipality or political subdivision at the next general election succeeding the date of the filing of the petition unless such filing date shall occur within five months immediately preceding a general election, in which case it shall be submitted at the second succeeding general election. If a majority of the legal voters voting upon said question at such general election vote in favor of adoption, the act to which this act is an amendment and supplement shall take effect in such county, municipality or political subdivision thereof on January first following the date of such election. If the act is adopted at such election, the clerk of the county, municipality or political subdivision so adopting the act shall immediately notify the board of trustees of the Police and Firemen's Retirement System of New Jersey of such adoption.
L.1945, c. 148, p. 530, s. 10.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-27 - Duties of chief financial officer and of board of trustees as to referendum; fiscal statement

43:16A-27. Duties of chief financial officer and of board of trustees as to referendum; fiscal statement
Whenever the question of the adoption of the act of which this act is an amendment and supplement is to be submitted to the voters at the general election in any year, the chief financial officer of the county, municipality or political subdivision in which the question is to be submitted shall, on or before July fifteenth preceding such election, mail to the board of trustees full information, on forms to be supplied by request by the board of trustees, as to the employees who may be covered if the act is adopted.
The board of trustees shall, prior to August thirty-first of said year, transmit to the governing body of such county, municipality or political subdivision the following fiscal statement with respect to the effect of the adoption of the act:
(1) Estimated cost to the municipality, county or political subdivision, as the case may be, as follows:
(a) The annual normal contribution to be made on account of employees then in service.
(b) The percentage of payroll for employees then in service, to meet the contribution under (a).
(c) The estimated lump sum of accrued liability for services rendered and to be rendered prior to the following January first.
(d) The percentage of present payroll to meet the liability stated in (c).
(e) The estimated annual contribution on account of the accrued liability if paid in ten installments.
(f) The percentage of present payroll, to meet the accrued liability, as stated in (e).
(g) The estimated annual contribution on account of accrued liability if met in twenty-five installments.
(h) The percentage of present payroll, to meet the accrued liability, as stated in (g).
(2) The annual contribution of the employee stated in percentage of pay for the several age brackets as of the following January first.
L.1945, c. 148, p. 530, s. 11.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-28 - Publication of fiscal statement; notice; hearing; resolution as to method of payment

43:16A-28. Publication of fiscal statement; notice; hearing; resolution as to method of payment
The governing body shall publish on or before September fifteenth of said year, in at least one newspaper having general circulation in such county, municipality or political subdivision, such fiscal statement with respect to the effect of the adoption of the act and a notice that the governing body will determine by resolution, after a public hearing on (insert time and date), which date shall be at least five days after date of publication and also before October fifth of said year, whether, if the act is adopted, the accrued liability on account of prior service credits shall be paid in one sum or in ten annual installments, or in twenty-five annual installments. At such public hearing any citizen or taxpayer of such county, municipality or political subdivision shall be heard. After the public hearing the governing body shall pass such resolution adopting one of the three methods of payment. Such resolution adopting a method of payment shall be binding if the act is adopted, except that if installment payments are provided for, any installment may be paid before the time such installment becomes due under the method adopted in said resolution. After the passage of such resolution, a certified copy thereof shall be forwarded by the clerk to the board of trustees of the Police and Firemen's Retirement System of New Jersey.
L.1945, c. 148, p. 531, s. 12.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-29 - Election to become member; prior service certificate

43:16A-29. Election to become member; prior service certificate
Any policeman or fireman in service in any county, municipality or political subdivision thereof prior to the date upon which this act becomes effective in such county, municipality or political subdivision thereof by referendum may become a member of this retirement system as of said date by filing with the board of trustees his election in writing to become such member on or before the date upon which this act becomes effective in such county, municipality or political subdivision thereof under such rules and regulations as the board of trustees shall adopt. Each such policeman or fireman so electing to become a member, shall file, immediately after becoming a member, with the board of trustees a detailed statement of all service rendered by him as policeman or fireman to his present employer prior to the date when this act becomes effective in such county, municipality or political subdivision thereof, for which he claims credit. As soon as practicable thereafter the board of trustees shall verify such statement and shall issue to him a prior service certificate certifying to the aggregate length of such service allowable as creditable service but, regardless of the length of such service, no prior service certificate shall allow more than 30 years of such creditable service. Such certificate shall be final and conclusive for retirement purposes as to such service, unless thereafter modified by the board of trustees upon application made by the member within 1 year, or upon its own initiative within 1 year after the date of issuance of such prior service certificate.
L.1945, c. 148, p. 532, s. 13. Amended by L.1964, c. 241, s. 12, eff. Jan. 1, 1965.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-30 - Costs for accrued liability on prior service certificates

43:16A-30. Costs for accrued liability on prior service certificates
The county, municipality or political subdivision thereof shall be liable to the board of trustees for the whole costs for the accrued liability on account of service credited on all prior service certificates issued to any policeman or fireman employed by it.
L.1945, c. 148, p. 533, s. 14.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-31 - Certification of normal contribution and contribution for accrued liability for prior service credits

43:16A-31. Certification of normal contribution and contribution for accrued liability for prior service credits
The board of trustees shall certify to the chief financial officer of the county, municipality or political subdivision thereof, adopting the act, on or before the first day of February following the adoption of the act, for the then current fiscal year and thereafter on or before the first of December of each year for the ensuing fiscal year, the normal contribution of such county, municipality or political subdivision and also its contribution for accrued liability for prior service credits.
L.1945, c. 148, p. 533, s. 15.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-32 - Information transmitted to board

43:16A-32. Information transmitted to board
The chief financial officer of each county, municipality or political subdivision having employees who are members of this fund shall transmit to the board of trustees such information as the board shall, from time to time, require.
L.1945, c. 148, p. 533, s. 16.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-33 - County police departments; application for membership

43:16A-33. County police departments; application for membership
The board of chosen freeholders of any county maintaining a county police department may pass a resolution requesting the board of trustees to permit the members of such police department to become members of the fund. The trustees shall thereupon request full information on forms to be supplied by it as to the employees who are to become members of the fund and transmit to such board of chosen freeholders the following fiscal statement with respect to the effect of the adoption of the act.
(1) Estimated cost to the county as follows:
(a) The annual normal contribution to be made on account of employees then in service.
(b) The percentage of payroll for employees then in service, to meet the contribution under (a).
(c) The estimated lump sum of accrued liability for services rendered and to be rendered prior to the following January first.
(d) The percentage of present payroll to meet the liability stated in (c).
(e) The estimated annual contribution on account of the accrued liability if paid in ten installments.
(f) The percentage of present payroll, to meet the accrued liability, as stated in (e).
(g) The estimated annual contribution on account of accrued liability if met in twenty-five installments.
(h) The percentage of present payroll, to meet the accrued liability, as stated in (g).
(2) The annual contribution of the employee stated in percentage of pay for the several age brackets as of the following January first.
L.1946, c. 192, p. 782, s. 1.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:16A-34 - Fiscal statement; publication; hearing on application

43:16A-34. Fiscal statement; publication; hearing on application
The board of chosen freeholders shall thereupon within thirty days after receipt of such fiscal statement publish the same in at least one newspaper having general circulation in such county and also publish a notice that a public hearing will be held to consider the question as to whether the members of the county police department shall be permitted to become members of the fund and in what manner the county contribution for prior service credits shall be paid. Such notice of public hearing shall set forth the place, the time and the date that such hearing shall take place. The date so fixed for the hearing shall be not less than five days after such publication but must be held before October fifth of that year. At such public hearing any citizen or taxpayer of such county shall be heard. After the public hearing the board of chosen freeholders shall pass such resolution adopting one of the three methods of payment. Such resolution adopting a method of payment shall be binding except that if installment payments are provided for, any installment may be paid before the time such installment becomes due under the method adopted in said resolution. After the passage of such resolution, a certified copy thereof shall be forwarded by the clerk of such board of chosen freeholders to the board of trustees of the police and firemen's retirement system of New Jersey.
L.1946, c. 192, p. 783, s. 2.