reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-8.1 - Calculation of annual adjustment

43:3B-8.1. Calculation of annual adjustment
The provisions of section 7 of P.L. 1969, c. 169 (C. 43:3B-8) shall not apply to section 26 of P.L. 1967, c. 250 (C. 43:16A-12.1) as amended by this 1985 amendatory and supplementary act, and the annual cost of living adjustment received by widows and widowers under P.L. 1958, c. 143 (C. 43:3B-1 et seq.) as amended and supplemented by P.L. 1969, c. 169 shall be calculated as of the date of retirement of the member of the retirement system.
L. 1985, c. 393, s. 2, eff. Dec. 20, 1985.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-8.2 - Cost of living adjustment

43:3B-8.2. Cost of living adjustment
The provisions of section 7 of P.L. 1969, c. 169 (C. 43:3B-8) shall not apply to R.S. 43:16-3, R.S. 43:16-4 and section 10 of P.L. 1944, c. 255 (C. 43:16A-10) as amended by this 1987 amendatory and supplementary act, and the annual cost of living adjustment received by surviving spouses under P.L. 1958, c. 143 (C. 43:3B-1 et seq.) as amended and supplemented by P.L. 1969, c. 169 shall be calculated as of the date of retirement of the member of the retirement system.
L. 1987, c. 128, s. 4.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-8.3 - Applicability of COLA

43:3B-8.3. Applicability of COLA
2. The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not apply to section 14 of P.L.1965, c.89 (C.53:5A-14), as amended by section 1 of this amendatory and supplementary act, and the annual cost of living adjustment received by surviving spouses under P.L.1958, c.143 (C.43:3B-1 et seq.), as amended and supplemented by P.L.1969, c.169, shall be calculated as of the date of death of the member of the retirement system.
L.1991,c.380,s.2.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-8.4 - Calculation of annual adjustment

43:3B-8.4. Calculation of annual adjustment
2. The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not apply to section 26 of P.L.1967, c.250 (C.43:16A-12.1) as amended by this amendatory and supplementary act, P.L.1991, c.511 (C.43:3B-8.4 et al.), and the annual cost of living adjustment received by widows and widowers under P.L.1958, c.143 (C.43:3B-1 et seq.) shall be calculated as of the date of the benefit year of the member of the retirement system.
L.1991,c.511,s.2.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-8.5 - Nonapplicability of C.43:3B-8 to P.L.1997, c.281

43:3B-8.5. Nonapplicability of C.43:3B-8 to P.L.1997, c.281
3. The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not apply to section 7 of P.L.1944, c.255 (C.43:16A-7), as amended by this act, P.L.1997, c.281 (C.43:16A-7.3), and the annual cost of living adjustment received by surviving spouses under P.L.1958, c.143 (C.43:3B-1 et seq.), as amended and supplemented by P.L.1969, c.169, shall be calculated as of the date of retirement of the member of the retirement system.
L.1997,c.281,s.3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-8.6 - Inapplicability of C.43:3B-8 to P.L.2001, c.4

43:3B-8.6. Inapplicability of C.43:3B-8 to P.L.2001, c.4
6. The provisions of section 7 of P.L.1969, c.169 (C.43:3B-8) shall not apply to R.S.43:16-1 or section 16 of P.L.1964, c.241 (C.43:16A-11.1) as amended by P.L.2001, c.4 (C. 43:15A-100.1 et al.), or to section 4 of that P.L.2001, c.4 (C.43:15A-100.1), and the annual cost of living adjustment received by retirants and beneficiaries under P.L.1958, c.143 (C.43:3B-1 et seq.) shall be calculated as of the date of the benefit year of the member of the appropriate pension fund or retirement system.
L.2001,c.4,s.6.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-9 - Rules and regulations

43:3B-9. Rules and regulations
The Director of the Division of Pensions shall promulgate such rules and regulations, not inconsistent with the provisions of this act, as he shall deem necessary for the effective operation of the program. He shall include a report of the operation of the Pension Increase Act in his annual report submitted to the Governor and the Legislature regarding all of the operations of the Division of Pensions.
L.1969, c. 169, s. 8.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3B-10 - Increase in expenditures required by act; mandated costs not subject to expenditure limitations

43:3B-10. Increase in expenditures required by act; mandated costs not subject to expenditure limitations
Notwithstanding the provisions of P.L.1976, c. 68 (C. 40A:4-45.1 et seq.) or rules and regulations promulgated pursuant thereto, any increase in expenditure required as a result of this act shall be deemed mandated costs and shall not be subject to the expenditure limitations imposed pursuant to P.L.1976, c. 68.
L.1977, c. 306, s. 5, eff. Dec. 27, 1977.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-1 - Pensioners in public employment

43:3C-1. Pensioners in public employment
1. Notwithstanding any other law to the contrary, if a former member of any pension fund or retirement system, contributory or noncontributory, established under any law of this State, who has been granted a pension or retirement allowance for any cause other than vesting or deferred retirement, becomes employed again in a position which makes him eligible to be a member of another pension fund or retirement system established under any law of this State, such person shall not be enrolled in such other pension fund or retirement system if he is eligible to receive such pension or retirement allowance.
L.1968,c.23,s.1; amended 1991,c.276,s.1.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-2 - Repeal

43:3C-2. Repeal
Chapter 3 of Title 43 of the Revised Statutes, and all amendments and supplements thereto, is repealed.
L.1968, c. 23, s. 2, eff. April 26, 1968.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-3 - Reemployment in elected public office; option for benefits

43:3C-3. Reemployment in elected public office; option for benefits
Notwithstanding any other law to the contrary, if a former member of any pension fund or retirement system, contributory or noncontributory, established under any law of this or any other state, who has been granted a pension or retirement allowance for any cause other than vesting or deferred retirement, becomes employed again in an elected public office which makes him eligible to be a member of the same or any other pension fund or retirement system established under any law of this State, such person shall have the option to choose either to be reenrolled in the same fund or system or enrolled in such other pension fund or retirement system or to continue to receive said pension or retirement allowance and any death benefit as a result of his former membership irrespective of his position as an elected public officer.
L.1977, c.171, s.1; amended 1989,c.320,s.1.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-4 - Depository institution defined

43:3C-4. Depository institution defined
As used in this act, "depository institution" means a banking institution as defined in section 1 of "The Banking Act of 1948," P.L.1948, c. 67 (C. 17:9A-1); an association as defined in section 5 of the "Savings and Loan Act (1963)," P.L.1963, c. 144 (C. 17:12B-5); an insured Federal credit union or an insured State chartered credit union as defined in section 1 of P.L.1938, c. 293 (C. 17:13-26).
L.1981, c. 213, s. 1, eff. July 20, 1981.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-5 - Agreement for direct deposit of monthly payment for retirant or beneficiary

43:3C-5. Agreement for direct deposit of monthly payment for retirant or beneficiary
Any law, rule or regulation to the contrary notwithstanding, the Division of Pensions shall honor an agreement executed between a retirant or beneficiary of any retirement system established pursuant to the laws of this State and a depository institution for the direct deposit in the depository institution of the monthly payment of the retirement allowance of the retirant or beneficiary; provided, however, that the depository institution assumes the full responsibility for the receipt and collection of the monthly payment, and, provided further that the agreement is consummated pursuant to such rules and regulations as shall be promulgated by the Division of Pensions.
L.1981, c. 213, s. 2, eff. July 20, 1981.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-6 - Retirant, defined

43:3C-6. Retirant, defined
As used in this act, "retirant" means any person who was employed by the State of New Jersey, any of its instrumentalities, any of its political subdivisions, any of the instrumentalities of its political subdivisions, or any Board of Education, who as a result of such service was a member of any State administered retirement system or is entitled to retirement benefits under any law administered by the Division of Pensions in the Department of the Treasury, who has 20 or more years of creditable service, who retired on or before January 2, 1955, and who does not receive State retirement benefits which are coordinated with Social Security.
L.1984, c. 156, s. 1, eff. July 1, 1984.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-7 - Minimum retirement allowance

43:3C-7. Minimum retirement allowance
A retirant shall receive a minimum retirement allowance of $6,000.00 per year from the Division of Pensions in the Department of the Treasury.
L.1984, c. 156, s. 2, eff. July 1, 1984.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-8 - Rules and regulations

43:3C-8. Rules and regulations
The Director of the Division of Pensions shall promulgate those rules and regulations pursuant to the "Administrative Procedure Act," P.L. 1968, c. 410 (C. 52:14B-1 et seq.) necessary to effectuate the purposes of this act.
L.1984, c. 156, s. 3, eff. July 1, 1984.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-9 - Employer pickup of employee contributions.

43:3C-9 Employer pickup of employee contributions.
1. The mandatory contributions by members or participants to the Teachers' Pension and Annuity Fund required by N.J.S.18A:66-31, to alternate benefit providers under the alternate benefit program required by section 8 of P.L.1969, c.242 (C.18A:66-174), to the Judicial Retirement System required by section 26 of P.L.1981, c.470 (C.43:6A-34.1), to the Prison Officers' Pension Fund required by section 7 of P.L.1941, c.220 (C.43:7-13), to the Public Employees' Retirement System required by section 25 of P.L.1954, c.84 (C.43:15A-25), to the Defined Contribution Retirement Program required by section 3 of P.L.2007, c.92 (C.43:15C-3), to the Consolidated Police and Firemen's Pension Fund required by R.S.43:16-5, to the Police and Firemen's Retirement System required by section 15 of P.L.1944, c.255 (C.43:16A-15), and to the State Police Retirement System required by section 38 of P.L.1965, c.89 (C.53:5A-38), shall be picked up by their employers and shall be treated as employer contributions as provided by section 414(h) of the United States Internal Revenue Code. The amount of contributions on behalf of each member shall continue to be included as regular compensation for all other purposes, except that the amount shall not be included in the computation of federal income taxes withheld from the member's compensation.
L.1986, c.188, s.1; amended 1993, c.385, s.12; 2007, c.92, s.16.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-9.1 - Corpus, income of retirement systems, restrictions on use, diversions.

43:3C-9.1 Corpus, income of retirement systems, restrictions on use, diversions.
1. In accordance with the provisions of section 401 (a) (2) of the federal Internal Revenue Code, and subject to such exceptions as may be permitted for governmental plans under section 401 (a) (2) of the federal Internal Revenue Code, at no time prior to the satisfaction of all liabilities with respect to members and their beneficiaries under the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66-1 et seq., the Judicial Retirement System, established pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), the Prison Officers' Pension Fund, established pursuant to P.L.1941, c.220 (C.43:7-7 et seq.), the Public Employees' Retirement System, established pursuant to P.L.1954, c.84 (C.43:15A-1 et seq.), the Consolidated Police and Firemen's Pension Fund, established pursuant to R.S.43:16-1 et seq., the Police and Firemen's Retirement System, established pursuant to P.L.1944, c.255 (C.43:16A-1 et seq.), the State Police Retirement System, established pursuant to P.L.1965, c.89 (C.53:5A-1 et seq.), the Alternate Benefit Program, established pursuant to P.L.1969, c.242 (C.18A:66-167 et seq.), and the Defined Contribution Retirement Program, established pursuant to P.L.2007, c.92 (C.43:15C-1 et seq.), shall any part of the corpus or income of the respective retirement systems, within the taxable year or thereafter, be used for or diverted to purposes other than for the exclusive benefit of the members or their beneficiaries.
L.1997, c.113, s.1; amended 2011, c.78, s.56.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-9.2 - Limitations on contributions, benefits.

43:3C-9.2 Limitations on contributions, benefits.
2. Notwithstanding any law, rule or regulation to the contrary, the contributions to and benefits payable under the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Prison Officers' Pension Fund, the Public Employees' Retirement System, the Consolidated Police and Firemen's Pension Fund, the Police and Firemen's Retirement System, the State Police Retirement System, the Alternate Benefit Program, and the Defined Contribution Retirement Program shall not exceed the limitations provided under section 415 of the federal Internal Revenue Code. The Division of Pensions and Benefits in the Department of the Treasury shall be responsible for implementation and enforcement of these limitations.
L.1997, c.113, s.2; amended 2011, c.78, s.57.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-9.3 - TPAF, JRS, PERS, PFRS, SPRS compensation limitation not to be exceeded

43:3C-9.3. TPAF, JRS, PERS, PFRS, SPRS compensation limitation not to be exceeded
3. Notwithstanding any law, rule or regulation to the contrary, for members of the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Public Employees' Retirement System, the Police and Firemen's Retirement System, and the State Police Retirement System, the amount of compensation which may be used for member contributions and benefits under the retirement systems after June 30, 1996 shall not exceed the compensation limitation of section 401 (a) (17) of the federal Internal Revenue Code of 1986, (26 U.S.C. s.401 (a) (17) ), as amended pursuant to section 13212 of the Omnibus Budget Reconciliation Act of 1993, Pub. L.103-66, 107 Stat. 312 or as hereafter amended or supplemented, to the extent applicable to governmental plans. The provisions of this section shall not be applicable to members enrolled prior to July 1, 1996 if the employer of the members certifies to the Director of the Division of Pensions and Benefits, in the form and manner prescribed by the director, prior to July 1, 1997, that the employer will pay the additional cost for not applying the limit to the members.
L.1997,c.113,s.3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-9.4 - Alternate Benefit Program, Defined Contribution Retirement Program, compensation limitation not to be exceeded.

43:3C-9.4 Alternate Benefit Program, Defined Contribution Retirement Program, compensation limitation not to be exceeded.
4. a. Notwithstanding any law, rule or regulation to the contrary, for members of the Alternate Benefit Program, the amount of compensation which may be used for employer and member contributions and benefits under the program after June 30, 1996 shall not exceed the compensation limitation of section 401 (a) (17) of the federal Internal Revenue Code of 1986 (26 U.S.C. s.401 (a) (17)), as amended pursuant to section 13212 of the Omnibus Budget Reconciliation Act of 1993, Pub. L.103-66, 107 Stat. 312, or as hereafter amended or supplemented, to the extent applicable to governmental plans. The provisions of this section shall not be applicable to members enrolled prior to July 1, 1996 if the employer of the members certifies to the Director of the Division of Pensions and Benefits, in the form and manner prescribed by the director, prior to July 1, 1997, that the employer will pay the additional cost for not applying the limit to the members.
b. Notwithstanding any law, rule or regulation to the contrary, for members of the Defined Contribution Retirement Program, the amount of compensation which may be used for employer and member contributions shall not exceed the compensation limitation of section 401(a)(17) of the federal Internal Revenue Code of 1986 (26 U.S.C. s.401(a)(17)), as amended from time to time.
L.1997, c.113, s.4; amended 2011, c.78, s.58.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-9.6 - Accrued benefits, rights of members.

43:3C-9.6 Accrued benefits, rights of members.
41. a. Upon the termination of the Teachers' Pension and Annuity Fund, the Public Employees' Retirement System, the Judicial Retirement System, the Police and Firemen's Retirement System, the State Police Retirement System, the Prison Officers' Pension Fund, the Consolidated Police and Firemen's Fund, the Alternate Benefit Program, or the Defined Contribution Retirement Program, or upon complete discontinuance of contributions to any of the retirement systems, the rights of all members of such retirement system to benefits accrued to the date of such termination or discontinuance, to the extent then funded, are non-forfeitable.
b. Notwithstanding any law, rule or regulation to the contrary, the form and timing of all distributions from the Teachers' Pension and Annuity Fund, the Public Employees' Retirement System, the Judicial Retirement System, the Police and Firemen's Retirement System, the State Police Retirement System, the Prison Officers' Pension Fund, the Consolidated Police and Firemen's Fund, the Alternate Benefit Program, or the Defined Contribution Retirement Program, to a member, or to the beneficiary of a member if the member dies before the member's entire interest has been distributed, shall conform to the required distribution provisions of section 401(a)(9) of the federal Internal Revenue Code and the regulations issued by the United States Department of the Treasury under that Code section, including the incidental death benefit requirements of section 401(a)(9)(G) of the federal Internal Revenue Code. In addition, in no event shall payments under any of the retirement systems commence to be paid to a member later than the member's required beginning date, without regard to whether the member has filed application therefor. For this purpose, a member's required beginning date is the April 1 of the calendar year following the later of (1) the calendar year in which the member attains age 70 1/2 or (2) the calendar year in which the member retires. The actuarial adjustment described in section 401(a)(9)(C)(iii) of the federal Internal Revenue Code shall not apply.
L.2007, c.92, s.41; amended 2011, c.78, s.59.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-10 - Approval of change in retirement or deferred compensation plan by State Treasurer

43:3C-10. Approval of change in retirement or deferred compensation plan by State Treasurer
A State autonomous authority may not establish or change a retirement or deferred compensation plan which provides for the payment of funds of the authority to that plan without the approval of the State Treasurer. The State Treasurer shall not approve the establishment or change of a retirement or deferred compensation plan unless it is determined that the plan or change is consistent with the policies inherent in State laws concerning retirement benefits for public employees and is in the public interest. This section is applicable to all State autonomous authorities regardless of whether they participate in a State-administered retirement system or deferred compensation program.
L.1990,c.25,s.4.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-11 - Benefits of present, future retirees unaffected

43:3C-11. Benefits of present, future retirees unaffected
38. No present or future retirees of the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Public Employees' Retirement System, the Consolidated Police and Firemen's Pension Fund, the Police and Firemen's Retirement System, or the State Police Retirement System shall receive any reduction in benefits or incur any additional costs as a result of the provisions of P.L.1992, c.41 (C.43:6A-33.1 et al.).
L.1992,c.41,s.38.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-12 - Investigation of certain increases in annual compensation for members of retirement systems.

43:3C-12 Investigation of certain increases in annual compensation for members of retirement systems.
21. a. With respect to all claims for benefits under the Teachers' Pension and Annuity Fund, the Public Employees' Retirement System, the Judicial Retirement System, the Police and Firemen's Retirement System, or the State Police Retirement System submitted on or after the effective date of P.L.2007, c.92 (C.43:15C-1 et al.), the Division of Pensions and Benefits shall investigate increases in compensation reported for credit that exceed reasonably anticipated annual compensation increases for members of the retirement system based upon consideration of the Consumer Price Index for the time period of the increases, the table of assumed salary increases recommended by the system's actuary and adopted by the board of trustees of the retirement system, and the annual percentage increases of salaries as indicated in data from the Public Employment Relations Commission established pursuant to P.L.1941, c.100 (C.34:13A-1 et seq.) or through other reliable industry sources of information regarding average annual salary increases.
b. Those cases in which a violation of the relevant statute or regulation is suspected shall be referred to the board of trustees of the relevant retirement system for further action.
L.2007, c.92, s.21.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-13 - Use of actuarial standards for retirement systems; disclosure, certain.

43:3C-13 Use of actuarial standards for retirement systems; disclosure, certain.
28. The Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Prison Officers' Pension Fund, the Public Employees' Retirement System, the Consolidated Police and Firemen's Pension Fund, the Police and Firemen's Retirement System, and the State Police Retirement System shall use consistent and generally-accepted actuarial standards, as established by the Governmental Accounting Standards Board or its successor, for the purpose of determining fund or system asset values, obligations and annual employer contributions. Any modification of the assumptions or actuarial methodology at the direction of the State that changes asset values, obligations or annual contributions shall require public disclosure prior to adoption, including a financial impact analysis.
L.2007, c.92, s.28.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-16 - "Target funded ratio."

43:3C-16 "Target funded ratio."
27. For the purpose of the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66-1 et seq., the Judicial Retirement System, established pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), the Public Employees' Retirement System, established pursuant to P.L.1954, c.84 (C.43:15A-1 et seq.), the Police and Firemen's Retirement System, established pursuant to P.L.1944, c.255 (C.43:16A-1 et seq.), and the State Police Retirement System, established pursuant to P.L.1965, c.89 (C.53:5A-1 et seq.), "target funded ratio" means a ratio of the actuarial value of assets to the actuarially determined accrued liabilities expressed as a percentage that shall be for the State part of each system, and the local part of each system, if any, 75 percent in State fiscal year 2012, and increased in each fiscal year thereafter by equal increments for seven years, until the ratio reaches 80 percent at which it shall remain for all subsequent fiscal years.
During the term of the lottery contribution made pursuant to section 4 of P.L.2017, c.98 (C.5:9-22.8), for the purpose of the retirement systems, as defined in section 3 of P.L.2017, c.98 (C.5:9-22.7), "target funded ratio" means a ratio of the actuarial value of assets plus the allocable special asset value, as determined in section 38 of P.L.2010, c.1 (C.43:3C-14), to the actuarially determined accrued liabilities expressed as a percentage that shall be for the State part of each system, and the local part of each system, if any, 75 percent in State fiscal year 2012, and increased in each State fiscal year thereafter by equal increments for seven years, until the ratio reaches 80 percent at which it shall remain for all subsequent State fiscal years.
L.2011, c.78, s.27; amended 2017, c.98, s.18.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-17 - Utilization of super conciliator.

43:3C-17 Utilization of super conciliator.
33. Whenever a committee of the Public Employees' Retirement System, the Teachers' Pension and Annuity Fund, or the State Police Retirement System fails to render a decision on a matter before the committee because it has not received a vote of the majority of the committee members after 60 days have passed following the initial consideration of the matter, the committee shall utilize a super conciliator, randomly selected from a list developed by the New Jersey Public Employment Relations Commission. The super conciliator shall assist the committee based upon procedures and subject to qualifications established by the commission pursuant to regulation.
The super conciliator shall promptly schedule investigatory proceedings. The purpose of the proceedings shall be to:
Investigate and acquire all relevant information regarding the committee's failure to render a decision;
Discuss with the members of the committee their differences, and utilize means and mechanisms, including but not limited to requiring 24-hour per day negotiations, until a voluntary settlement is reached, and provide recommendations to resolve the members' differences; and
Institute any other non-binding procedures deemed appropriate by the super conciliator.
If the actions taken by the super conciliator fail to resolve the dispute, the super conciliator shall issue a final report, which shall be provided to the committee promptly and made available to the public within 10 days thereafter.
The super conciliator, while functioning in a mediatory capacity, shall not be required to disclose any files, records, reports, documents, or other papers classified as confidential which are received or prepared by him or to testify with regard to mediation conducted by him under this section. Nothing contained herein shall exempt an individual from disclosing information relating to the commission of a crime.
L.2011, c.78, s.33; amended 2018, c.55, s.3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-18 - Qualified governmental defined benefit plans.

43:3C-18 Qualified governmental defined benefit plans.
60. a. Notwithstanding any law, rule or regulation to the contrary, the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66-1 et seq., the Judicial Retirement System, established pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), the Prison Officers' Pension Fund, established pursuant to P.L.1941, c.220 (C.43:7-7 et seq.), the Public Employees' Retirement System, established pursuant to P.L.1954, c.84 (C.43:15A-1 et seq.), the Consolidated Police and Firemen's Pension Fund, established pursuant to R.S.43:16-1 et seq., the Police and Firemen's Retirement System, established pursuant to P.L.1944, c.255 (C.43:16A-1 et seq.), and the State Police Retirement System, established pursuant to P.L.1965, c.89 (C.53:5A-1 et seq.), are established as qualified governmental defined benefit plans pursuant to sections 401(a) and 414(d) of the federal Internal Revenue Code of 1986 (26 U.S.C. ss.401(a) and 414(d)), as amended, or such other provision of the federal Internal Revenue Code, as applicable, regulations of the U.S. Treasury Department, and other guidance of the federal Internal Revenue Service.
b. Notwithstanding any law, rule or regulation to the contrary, the Alternate Benefit Program, established pursuant to P.L.1969, c.242 (C.18A:66-167 et seq.), and the Defined Contribution Retirement Program, established pursuant to P.L.2007, c.92 (C.43:15C-1 et seq.) are established as qualified governmental defined contribution plans pursuant to sections 401(a) and 414(d) of the federal Internal Revenue Code of 1986 (26 U.S.C. ss.401(a) and 414(d)), as amended, or such other provision of the federal Internal Revenue Code, as applicable, regulations of the U.S. Treasury Department, and other guidance of the federal Internal Revenue Service.
c. Notwithstanding the provisions of any law, rule or regulation to the contrary, the Director of the Division of Pensions and Benefits in the Department of the Treasury, and in the case of the Police and Firemen's Retirement System, the board of trustees of that system, shall be authorized to modify the provisions of the foregoing retirement plans, when a modification is required to maintain the qualified status of the retirement plans under the Internal Revenue Code of 1986, applicable regulations of the U.S. Treasury Department or other guidance of the federal Internal Revenue Service. Notwithstanding the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), the director, and in the case of the Police and Firemen's Retirement System, the board, may modify the provisions of the foregoing retirement plans, when a modification is required to maintain the qualified status of the retirement plans by promulgating a rule or regulation which shall be effective upon filing with the Office of Administrative Law.
L.2011, c.78, s.60; amended 2018, c.55, s.4.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-19 - Member fully vested in accumulated contributions.

43:3C-19 Member fully vested in accumulated contributions.
61. a. A member shall be fully vested in his or her accumulated contributions at all times.
b. A member shall be fully vested in his or her service retirement benefit upon the attainment of normal retirement age under the retirement system and the completion of any required years of service. Normal retirement age means the age established by regulation consistent with statute.
c. In conformity with section 401(a)(8) of the federal Internal Revenue Code (26 U.S.C. s.401(a)(8)), any forfeitures of benefits by members or former members of the plan shall not be applied to increase the benefits any member would otherwise receive under the plan.
L.2011, c.78, s.61.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-20 - Administration in accordance with rollover requirements.

43:3C-20 Administration in accordance with rollover requirements.
62. Notwithstanding any law, rule or regulation to the contrary, the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Prison Officers' Pension Fund, the Public Employees' Retirement System, the Consolidated Police and Firemen's Pension Fund, the Police and Firemen's Retirement System, the State Police Retirement System, the Alternate Benefit Program, and the Defined Contribution Retirement Program shall be administered in accordance with the rollover requirements of section 401(a)(31) of the federal Internal Revenue Code (26 U.S.C. s.401(a)(31)).
L.2011, c.78, s.62.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-21 - Qualified military service.

43:3C-21 Qualified military service.
63. Effective December 12, 1994, notwithstanding any other provision of the retirement system law, contributions, benefits and service credit with respect to qualified military service are governed by section 414(u) of the federal Internal Revenue Code (26 U.S.C. s.414(u)) and the Uniformed Services Employment and Reemployment Rights Act of 1994 (38 U.S.C. s.4301 et seq.).
L.2011, c.78, s.63.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-22 - Prohibited transactions.

43:3C-22 Prohibited transactions.
64. Effective as of July 1, 1989, a retirement board, or a member of such board, shall not engage in a transaction prohibited by section 503(b) of the federal Internal Revenue Code (26 U.S.C. s.503(b)).
L.2011, c.78, s.64.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-23 - Participation in qualified group trust.

43:3C-23 Participation in qualified group trust.
65. Each retirement system may participate under Section 401(a)(24) of the federal Internal Revenue Code in a qualified group trust that meets the requirements of Section 401(a) of the federal Internal Revenue Code (26 U.S.C. s.401(a)(24)) in accordance with Revenue Ruling 81-100, as amended by Revenue Ruling 2004-67 and Revenue Ruling 2011-1.
L.2011, c.78, s.65.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-25 - Notification of change of beneficiary.

43:3C-25 Notification of change of beneficiary.
1. The Division of Pensions and Benefits in the Department of the Treasury shall provide for the prompt notification in writing of any member or retiree of the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66-1 et seq., the Judicial Retirement System, established pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), the Public Employees' Retirement System, established pursuant to P.L.1954, c.84 (C.43:15A-1 et seq.), the State Police Retirement System, established pursuant to P.L.1965, c.89 (C.53:5A-1 et seq.), the Alternate Benefit Program, established pursuant to P.L.1969, c.242 (C.18A:66-167 et seq.), and the Defined Contribution Retirement Program, established pursuant to P.L.2007, c.92 (C.43:15C-1 et seq.), when the member or retiree submits a change to the designation of beneficiary for contributory and non-contributory group life insurance available to the member or retiree through the system, that there is on file a judgment, court order, decree, or other legal document for that member or retiree specifically designating the beneficiary of such life insurance. The Board of Trustees of the Police and Firemen's Retirement System or its designee shall provide for the prompt notification in writing of any member or retiree of the Police and Firemen's Retirement System, established pursuant to P.L.1944, c.255 (C.43:16A-1 et seq.), when the member or retiree submits a change to the designation of beneficiary for contributory and non-contributory group life insurance available to the member or retiree through the system, that there is on file a judgment, court order, decree, or other legal document for that member or retiree specifically designating the beneficiary of such life insurance. The notification requirement shall apply only when there is a valid judgment, court order, decree, or other legal document that has been filed with the division or, in the case of the Police and Firemen's Retirement System, the board of trustees or its designee pursuant to the division's or board's determination to accept and honor such a judgment, court order, decree, or document and that has been reviewed, approved, or classified as qualified by the division or the board or the board's designee.
L.2015, c.180, s.1; amended 2018, c.55, s.5.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:3C-26 - Adoption of uniform method to conduct, report regular stress test analyses of State-administered retirement systems.

43:3C-26 Adoption of uniform method to conduct, report regular stress test analyses of State-administered retirement systems.
1. a. The boards of trustees of the Teachers' Pension and Annuity Fund, established pursuant to N.J.S.18A:66-1 et seq., the Judicial Retirement System, established pursuant to P.L.1973, c.140 (C.43:6A-1 et seq.), the Public Employees' Retirement System, established pursuant to P.L.1954, c.84 (C.43:15A-1 et seq.), the Police and Firemen's Retirement System, established pursuant to P.L.1944, c.255 (C.43:16A-1 et seq.), and the State Police Retirement System, established pursuant to P.L.1965, c.89 (C.53:5A-1 et seq.), shall adopt a uniform method to conduct and report regular stress test analyses of these State-administered retirement systems. The uniform method adopted by the boards of trustees shall be a method recommended by an organization of actuaries in accordance with generally accepted and nationally recognized actuarial standards, and approved by a majority of the actuaries of the foregoing State-administered retirement systems. The stress test analyses shall provide a forward-looking projection, which considers the effects of long-term conditions and patterns of behavior of the investment market, to assess how well the investments of each State-administered retirement system are likely to perform in periods when market returns are significantly above or below baseline assumed returns. The stress test analyses shall include past investment performance data for each of the foregoing State-administered retirement systems for a minimum period of 25 years, including investment returns, both gross and net of fees, and returns by asset class.
b. The Division of Pensions and Benefits shall post, on its Internet website and in the same location as other reports and analyses produced by the division, the stress test analyses required pursuant to this section.
L.2017, c.277, s.1.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-1 - Applies to veterans

43:4-1. Applies to veterans
43:4-1. This chapter shall apply to and include persons serving in and honorably discharged from the military or naval service of the United States, including nurses, in any war in which the United States is or has been engaged, and members of the American Merchant Marine during World War II who have been honorably discharged and are declared by the United States Department of Defense to be eligible for federal veterans' benefits, and in connection with the American punitive expedition or other intervention campaign or trouble with the Republic of Mexico during the administration of President Woodrow Wilson; provided, such designated persons shall have attained the age of 62 years or become incapacitated for the duties of their office or position or employment.
Amended 1944,c.211; 1991,c.389,s.26.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-1.1 - Veterans eligible for pension under this article

43:4-1.1. Veterans eligible for pension under this article
War veterans employed in positions covered by any county or city public employee retirement system, established pursuant to chapter 160 of the laws of 1943, chapter 310 of the laws of 1948, chapter 218 of the laws of 1954, chapter 251 of the laws of 1954, or chapter 275 of the laws of 1964, but who are not members of any such pension fund, and who first became eligible for membership in the Public Employees' Retirement System of New Jersey pursuant to the provisions of chapter 71 of the laws of 1966, shall nevertheless be permitted to retire and be granted a pension under the provisions of article 1 of chapter 4 of Title 43 of the Revised Statutes, if they are otherwise eligible for benefits thereunder.
L.1967, c. 295, s. 1, eff. Feb. 15, 1968.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-1.2 - Withdrawal from public employees' retirement system

43:4-1.2. Withdrawal from public employees' retirement system
Any such war veteran who enrolled in the Public Employees' Retirement System of New Jersey shall be permitted to withdraw therefrom upon the filing of a proper application for the return of his contributions if he makes such application within 90 days of the effective date of this act. Such withdrawal shall constitute a waiver of his rights to all benefits in the State system.
L.1967, c. 295, s. 2, eff. Feb. 15, 1968.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-2 - Retirement of veterans; pension to widow

43:4-2. Retirement of veterans; pension to widow
43:4-2. When an honorably discharged soldier, sailor or marine or an honorably discharged member of the American Merchant Marine who served during World War II and is declared by the United States Department of Defense to be eligible for federal veterans' benefits has or shall have been for 20 years continuously or in the aggregate in office, position or employment of this State or of a county, municipality or school district or board of education, the body, board or officer having power to appoint his successor in case of vacancy may, with his assent, order his retirement from such service, or he shall be retired on his own request.
When an honorably discharged soldier, sailor or marine having 40 years of continuous service in office, position or employment in this State shall, while serving in the war between the United States and Germany and Japan, lose his life in the performance of his duties, there shall be paid to his widow, during the term of her natural life, or so long as she remains a widow, a pension to which such veteran would have been entitled had he retired under the provisions hereof. This act shall be retroactive to include such veterans who lost their lives in the performance of duty within one year prior to the passage hereof. Such pension shall be calculated and paid in the manner provided by section 43:4-3 of the Revised Statutes. There shall be deducted from such pension payments any pension payment made or made available to such widow from the United States Government on account of the services of such veteran or because of the loss of his life in the performance of such duty.
Amended 1943,c.87; 1944,c.191; 1947,c.279; 1991,c.389,s.27.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-3 - Amount of pension; pensions under other laws

43:4-3. Amount of pension; pensions under other laws
A person so retired shall be entitled, for and during his natural life, to receive by way of pension, one-half of the compensation then being received by him for his service, which shall be paid in the same way and in the same installments as his compensation has been payable. No pension paid under this article shall be less than fifty dollars per month, unless the person so retired shall at the time of his retirement be receiving compensation of less than fifty dollars per month, in which case he shall be paid on retirement the full amount then being received by him for his service.
In case of retirement with pension from office or position under any other law of this state, the person retiring shall waive either his pension under that law or his pension under this article.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-3.1 - Increase of pension

43:4-3.1. Increase of pension
Effective January 1, 1968 the pension payable by any county, municipality or school district to any veteran retired on pension prior to January 1, 1955 pursuant to article 1 of chapter 4 of Title 43 of the Revised Statutes may be increased in accordance with the provisions of this act; provided that the board of chosen freeholders of the county by resolution, or the governing body of the municipality by ordinance, or the board of education of the school district by resolution, as the case may be, shall so determine.
L.1967, c. 294, s. 1, eff. Feb. 15, 1968.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-3.2 - Pension increase table

43:4-3.2. Pension increase table
The first $900.00 of the annual pension or the full amount of the pension, if the same is less than $900.00 per year, shall be increased in accordance with a ratio of increase formula calculated in accordance with the percentage applicable for the calendar year of retirement, as follows:
Year of Ratio of Year of Ratio of
Retirement Increase Retirement Increase
1920 88% 1937 109%
1921 72% 1938 106%
1922 64% 1939 104%
1923 61% 1940 103%
1924 61% 1941 101%
1925 66% 1942 96%
1926 66% 1943 87%
1927 65% 1944 79%
1928 65% 1945 70%
1929 65% 1946 61%
1930 66% 1947 51%
1931 71% 1948 41%
1932 79% 1949 33%
1933 89% 1950 26%
1934 99% 1951 19%
1935 107% 1952 15%
1936 111% 1953 12%
1954 10%
L.1967, c. 294, s. 2, eff. Feb. 15, 1968.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-3.3 - Appropriations to pay increases

43:4-3.3. Appropriations to pay increases
Funds to pay the increases provided in this act shall be provided in the budgets of the county, municipality or school district from whose service the veteran retired on pension and shall be added to pension payments payable for any period after January 1, 1968 or shall be added to pension payments retroactively to January 1, 1968 as to any pension payable by a school district having a fiscal year commencing in 1968 on a date other than on January 1.
The increase in pension shall continue to be paid as long as there shall be appropriated the amounts required. In the event that the necessary funds are not so appropriated, the increase in pension shall cease.
L.1967, c. 294, s. 3, eff. Feb. 15, 1968.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:4-3.4 - Waiver of increase; written request

43:4-3.4. Waiver of increase; written request
Any increase in pension, or a portion thereof, authorized by this act, may be waived upon written request of the person entitled thereto.
L.1967, c. 294, s. 4, eff. Feb. 15, 1968.