reglab/statecodes huggingface dataset:
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.49e - Retirement after 60; benefits

43:13-22.49e. Retirement after 60; benefits
a. A member who shall have attained 60 years, upon retirement from service as an elected official of the city, shall receive a pension equal to 3% of final compensation as an elected official of the city for each year of creditable service as such an official. In no event shall the pension payable under this section exceed two-thirds of final compensation.
b. The death benefit provided in section 18 of P.L.1954, c. 218 (C. 43:13-22.20) shall apply in the case of any member retiring under the provisions of this section.
c. No member shall be eligible to retire pursuant to this section until he has terminated all public service covered by the retirement system.
L.1981, c. 565, s. 5, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.49f - Termination of service as elected official after 10 years before age 60 and all other public service; benefits

43:13-22.49f. Termination of service as elected official after 10 years before age 60 and all other public service; benefits
A member who shall have served as an elected official of the city for at least 10 years and having made contributions therefor to the retirement system, and who ceases to be an elected official of the city for any reason other than death before reaching age 60, may, upon termination of such service as such an elected official and all other public service covered by the retirement system, elect to receive, in lieu of the payment provided in section 29 of P.L.1954, c. 218 (C. 43:13-22.31):
a. The payments provided for in section 6 of P.L.1972, c. 122 (C. 43:13-22.19a) if he so qualifies under the section; or
b. The payments provided for in section 17 of P.L.1954, c. 218 (C. 43:13-22.19) if he so qualifies under the section; or
c. A deferred pension, beginning on the first day of the month following his attainment of age 60 and the filing of an application therefor, which shall be equal to 3% of final compensation as an elected official for each year of creditable service as such an elected official.
The benefit payable pursuant to this section shall be subject to the maximum pension provisions of section 5 of this supplementary act.
L.1981, c. 565, s. 6, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.49g - Termination of service as elected official; ineligibility for special benefits; refund or credit of contributions; election of pensions; dual pensions; prohibition

43:13-22.49g. Termination of service as elected official; ineligibility for special benefits; refund or credit of contributions; election of pensions; dual pensions; prohibition
a. A member making contributions pursuant to the provisions of this supplementary act who is not eligible for any benefits hereunder may, upon termination of such service as an elected official of the city, elect to receive a refund of his contributions in accordance with the provisions of section 29 of P.L.1954, c. 218 (C. 43:13-22.31); but if an elected official of the city is a member of the retirement system on the basis of other public service, no application for a refund of contributions may be approved until he has terminated all service covered by the system and makes application for a refund of all contributions made to the retirement system. If all or any part of a member's service as an elected official of the city is applied toward qualifying for benefits under any other provisions of P.L.1954, c. 218 (C. 43:13-22.3 et seq.), no return of contributions made on the basis of service as an elected official of the city shall be approved; in that event, service established as an elected official of the city and salaries pertaining thereto shall be credited in the same manner as all other service and salaries covered by the retirement system.
b. At the time of retirement, a member enrolled on the basis of service as an elected official of the city as well as other public service shall be permitted to elect the largest possible pension if he qualifies for benefits under both the provisions of this supplementary act and P.L.1954, c. 218 (C. 43:13-22.3 et seq.). Upon the election of the retirement benefits provided by service as an elected official of the city by this supplementary act, an application for a refund of contributions made on the basis of such other public service may be approved.
c. An elected official of the city electing to receive a pension under any other law of the State shall be ineligible to receive a pension for the same service under this supplementary act or P.L.1954, c. 218 (C. 43:13-22.3 et seq.).
L.1981, c. 565, s. 7, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.49h - Repeal of ordinance; disposition of contributions and effect on benefits

43:13-22.49h. Repeal of ordinance; disposition of contributions and effect on benefits
a. If the governing body of the city later repeals the ordinance which it enacted pursuant to section 1 of this supplementary act, a member enrolled on the basis of service as an elected official shall, upon filing an application therefor, receive a return of his contributions as an elected official pursuant to section 29 of P.L.1954, c. 218 (C. 43:13-22.31) unless the member continues in the retirement system pursuant to subsection b. of this section or has retired pursuant to this act.
b. Any member who shall have served as an elected official of the city for at least 10 years and contributed to the retirement system, or who shall have attained the retirement age of 60, may continue to avail himself of the special benefits provided by this supplementary act, except that only creditable service rendered as an elected official up to the time of the repeal of the ordinance shall be included for the purposes of computing the special benefits.
c. In the case of an elected official of the city who retires pursuant to the provisions of this act and is receiving or is eligible to receive the special benefits provided by this act, the repeal of the ordinance by the governing body shall not affect the benefits which such member is receiving or is eligible to receive, nor the obligation of the city to fund those benefits.
L.1981, c. 565, s. 8, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.49i - Repeal of ordinance; receipt of refund of contributions; membership in PERS and purchase of prior service credits

43:13-22.49i. Repeal of ordinance; receipt of refund of contributions; membership in PERS and purchase of prior service credits
Upon the repeal of the ordinance by the governing body of the city, any elected official of the city who receives a refund of his contributions to the retirement system may become a member of the Public Employees' Retirement System pursuant to section 75 of P.L.1954, c. 84 (C. 43:15A-75) and may purchase credit for previous service as an elected official of the city pursuant to the provisions of subsection b. of section 8 of P.L.1954, c. 84 (C. 43:15A-8b.).
L.1981, c. 565, s. 9, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.49j - Enactment or repeal of ordinance; forwarding copy to division of pensions

43:13-22.49j. Enactment or repeal of ordinance; forwarding copy to division of pensions
Upon the adoption of an ordinance pursuant to section 1 of this supplementary act or the repeal of such an ordinance, the governing body of the city shall make available to the Division of Pensions a copy of the ordinance or the repeal, as the case may be.
L.1981, c. 565, s. 10, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.51 - Retirement system

43:13-22.51. Retirement system
In each city, as defined in this act, an employees' retirement system shall be and is hereby created, set apart, maintained and administered in the manner prescribed in this act, for the benefit of employees of such city and the widows, widowers, minor children and dependent parents of such employees; and also of all contributors to, participants in, and beneficiaries of any pension fund in operation in such city, at the time of the effective date of this act, under and by virtue of article 2, chapter 13, Title 43 of the Revised Statutes. The retirement system so created shall have the powers and privileges of a corporation and in no event shall be liable for the payment of any pension or other benefits payable on account of members or their dependents for which reserves have not been previously created from funds contributed by the city or by the members for such benefits.
L.1964, c. 275, s. 2.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.52a - Temporary employees; membership as condition of employment

43:13-22.52a. Temporary employees; membership as condition of employment
Any temporary employee included by this act in the definition of "employee" set forth in section one of P.L.1964, c. 275 (C. 43:13-22.50), shall, unless he is a member of another retirement system or otherwise ineligible, become a member of the retirement system established pursuant to P.L.1964, c. 275, as a condition of his employment; provided that he shall submit to and pass the physical and mental examinations required by the commission and shall provide such evidence of good health, at that time, as the commission shall require.
L.1984, c. 118, s. 2.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.53 - Retirement for age and service.

43:13-22.53 Retirement for age and service.
4. (a) Any member who shall have established 20 or more years of creditable service in the retirement system and who shall have attained the age of 60 years shall, upon application by that member to the commission, be retired on a pension equal to 55% of final salary, plus 1% of such salary for each year of creditable service in excess of 20 years, if the member has more than 20 years of creditable service at retirement.
In no event shall the amount of any pension payable pursuant to the provisions of this subsection be less than $3,600 per annum.
(b) (Deleted by amendment, P.L.1990, c.20)
(c) Any member who upon attainment of 60 or more years of age shall have established less than 20 years of creditable service in the retirement system may retire on a pension equal to 2% of final salary for each year of creditable service. In no event shall the amount of any pension payable pursuant to the provisions of this subsection be less than $3,600 per annum.
(d) A person who becomes a member of the retirement system on or after the effective date of P.L.2013, c.282, who shall have established 25 or more years of creditable service in the retirement system and who shall have attained the age of 65 years shall, upon application by that member to the commission, be retired on a pension equal to 55% of final salary, plus 1% of such salary for each year of creditable service in excess of 25 years, if the member has more than 25 years of creditable service at retirement. In no event shall the amount of any pension payable pursuant to the provisions of this subsection be less than $3,600 per annum.
L.1964, c.275, s.4; amended 1966, c.158, s.3; 1975, c.307; 1981, c.534, s.6; 1990, c.20, s.2; 1996, c.101, s.1; 2013, c.282, s.3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.54b - Increases in pension

43:13-22.54b. Increases in pension
Every person who is a retirant from a retirement system created pursuant to P.L.1964, c. 275 (C. 43:13-22.50 et seq.) or from a retirement system that has merged with that retirement system, and who is receiving a pension on the effective date of this act, shall have that pension increased by 1% for each full year that has elapsed since his retirement up to the effective date of this act.
Pension increases shall not be paid to retirants who are not receiving their regular, full, monthly pensions. The increase granted under the provisions of this act shall be effective only on the first day of a month, shall be paid in monthly installments, and shall not be decreased, revoked or repealed except as otherwise provided by law. No increase shall be due a retirant or his beneficiary unless it constitutes a payment for an entire month.
L.1984, c. 117, s. 1, eff. Aug. 8, 1984.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.54c - Liability for payment of increase by employer

43:13-22.54c. Liability for payment of increase by employer
The employer shall bear the cost of the increase in the pensions payable to retirants pursuant to this act. The employer shall appropriate the amount necessary to fund this act in the current fiscal year and in each following fiscal year.
The pension commission shall certify to the employer the number of retirants eligible to receive increases pursuant to this act and the amount necessary to make the payments.
L.1984, c. 117, s. 2, eff. Aug. 8, 1984.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.54d - Rules and regulations.

43:13-22.54d Rules and regulations.
3. The pension commission shall promulgate rules and regulations which it shall deem necessary for the effective operation of P.L.1964, c.275 (C.43:13-22.50 et seq.), any act that is a supplement thereto and section 6 of P.L.2013, c.282 (C.43:13-22.56), and for compliance with the provisions of the federal Internal Revenue Code of 1986, as amended, regulations of the United States Treasury Department, and other directives or guidance of the federal Internal Revenue Service.
L.1984, c.117, s.3; amended 2013, c.282, s.5.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.55 - Retirement for disability

43:13-22.55. Retirement for disability
(a) Any member having five or more years of creditable service in the retirement system who shall have become permanently disabled for the further performance of duty, shall, by resolution of the commission or upon application of such member and approval thereof by the commission, and in either case pursuant to the certificate of a physician or physicians designated for that purpose by the commission, be retired on a pension equal to 1/2 of final salary plus 1% of such salary for each year of creditable service in excess of 20 years, if the member has more than 20 years of creditable service at retirement; but in no event shall the amount of any pension payable pursuant to the provisions of this subsection be less than $3,600 per annum.
(b) Any member who shall become permanently and totally disabled as a result of a traumatic event occurring during and as a result of the performance of that member's regular or assigned duties and where such disability is not the result of the member's willful negligence and the member is mentally or physically incapacitated for the performance of such usual duty and of any other available duty shall, by resolution of the commission or upon application of such member and approval thereof by the commission, and in either case pursuant to the certificate of a physician or physicians designated for that purpose by the commission, be retired on a pension equal to 2/3 of final salary, but in no event shall the amount of any disability pension payable pursuant to the provisions of this subsection be less than $3,600 per annum. The application to accomplish such retirement must be filed within five years of the original traumatic event.
A member who is retired on a disability retirement allowance pursuant to this section shall submit, at times to be selected by the commission but not more often than twice a year, to a physical examination by a physician or physicians designated by the commission; provided, however, that no member retired for disability whose total years of creditable service, including any period of disability retirement, equal 20 or more years and who shall have attained age 60 shall be required to submit to such physical examination. The physician or physicians shall report to the commission the physical condition of such member and if said report certifies that the member's condition has improved so that the member is no longer permanently disabled or if the member is engaged in an occupation, then the amount of the pension shall be reduced to an amount which, when added to the amount of the member's other earnings, shall not exceed the salary now attributable to the member's former position, but only after an opportunity is given such member to be represented by counsel at a hearing on the action by the commission.
L.1964,c.275,s.6; amended 1966,c.158,s.4; 1981,c.534,s.8; 1990,c.20,s.4.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.56a - Widow's pension

43:13-22.56a. Widow's pension
Any pensioner receiving a pension as a result of the prior service by a deceased spouse to a city, whose spouse died prior to January 12, 1965, and who is still qualified to receive the pension, shall receive, in lieu of the present pension award the sum of $3,600.
The provisions of this section shall in no way affect the provisions of section 7 of P.L.1964, c.275 (C.43:13-22.56).
L.1964,c.221,s.1; amended 1973,c.348,s.2; 1981,c.534,s.3; 1990,c.20,s.6.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.57 - Priority of payments to survivors

43:13-22.57. Priority of payments to survivors
Upon and after the death of a member or survivor, the benefits herein provided for the remaining survivors shall be paid in the following manner of priority:
(a) To the surviving widow or widower;
(b) If no widow or widower, then to the guardian of the minor children for their exclusive use;
(c) In the event there be no surviving widow, widower or minor children, then to the dependent parent or parents in equal shares.
L.1964, c. 275, s. 8. Amended by L.1981, c. 534, s. 4, eff. Jan. 12, 1982.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.58 - Refund of contributions

43:13-22.58. Refund of contributions
Upon the separation from service with the city of any member who is not entitled to receive any other benefits from the system, the contributions, without interest, paid into the fund by such member shall be refunded to him. Said refund of the member's contributions shall be made at the expiration of 90 days following his separation from service, plus the period of time during which any legal proceedings pertaining thereto shall be pending. No such person shall thereafter be eligible for a pension under this act unless upon a re-employment by the city he shall repay to the fund the amount of any such refund made to him. The obligation to refund payments made to the fund shall not apply to an employee suspended or discharged for causes which bar him from eligibility to reappointment under civil service rules.
L.1964, c. 275, s. 9.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.59a - Temporary employees; previous service credit

43:13-22.59a. Temporary employees; previous service credit
Any person required to become a member of the retirement system pursuant to section 2 of this act shall receive credit for all of his previous service in the employ of the city provided that payments are made by such person in an amount or amounts calculated in accordance with the rules of the commission as may be necessary to provide the entire actuarial cost of the previous service credit. In the event that the person retires before he completes the payment for all of his previous service credit, credit for his service shall be given in direct proportion as the amount paid bears to the total amount of the obligation.
L.1984, c. 118, s. 3.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.59b - Filing of detailed statement of public employment.

43:13-22.59b Filing of detailed statement of public employment.
7. A member may file a detailed statement of public employment with a public employer in this State which was eligible for credit in a State-administered retirement system, or of military service in the Armed Forces of the United States, rendered prior to becoming a member, for which the member desires credit, and of such other facts as the retirement system may require. The member may purchase credit for all or a portion of the service evidenced in the statement up to the nearest number of years and months, but not exceeding three years. No application shall be accepted for the purchase of credit for the service if, at the time of application, the member has a vested right to retirement benefits in another retirement system based in whole or in part upon that service. A member who applies to purchase credit for such service shall pay the full cost attributable to the increased benefits to be derived from the purchased credit in accordance with the actuarial method used to determine the cost at the time of the purchase. The purchase may be made in a lump sum or in regular installments, equal to at least 1/2 of the full normal contribution to the retirement system, over a maximum period of 10 years. A member shall not be liable for any costs associated with the financing of pension adjustment benefits and health care benefits for retirees when purchasing credit.
Any member electing to make a purchase pursuant to this section who retires prior to completing payments as agreed with the retirement system will receive pro rata credit for the purchase prior to the date of retirement, but if the member so elects at the time of retirement, the member may make the additional lump sum payment required at that time to provide full credit.
L.2013, c.282, s.7.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.59c - Additional payment to retirement system.

43:13-22.59c Additional payment to retirement system.
11. At the time it makes its annual normal contribution to the retirement system, the employer shall pay to the retirement system an additional amount equivalent to the cost of the adjustment in retirement allowances or pensions and in survivorship benefits payable to retirants and beneficiaries in the prior year pursuant to sections 7 through 13 of P.L.1990, c.20 (C.43:13-22.69 et seq.), except the initial payment shall be equivalent to the cost of the adjustment beginning on the effective date of P.L.2013, c.282.
L.2013, c.282, s.11.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.60 - Exemption of fund from taxation and process

43:13-22.60. Exemption of fund from taxation and process
All pensions granted under this act shall be exempt from any State or municipal tax, levy and sale, garnishment or attachment or any other process whatsoever, and shall be unassignable, except for the purpose and to the extent necessary to authorize, with the member's or pensioner's consent, deductions of premiums for group hospitalization and medical-surgical insurance.
L.1964, c. 275, s. 11.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.61 - Existing pension fund superseded by and merged into retirement system

43:13-22.61. Existing pension fund superseded by and merged into retirement system
It is the intention of this act that the retirement system herein provided for shall, on and after the effective date of this act, supersede and take the place of any pension system then existing in the said city pursuant to article 2, chapter 13, Title 43, of the Revised Statutes.
Any aforesaid former pension system shall become a part of and shall be and hereby is merged into the retirement system created by this act. All moneys, securities and other assets of such former pension system shall be transferred as of the effective date of this act by the commission of such pension fund to the commission created by this act; which commission is hereby empowered to receive the said funds and assets for and on behalf of the retirement system herein provided for; and the said pension fund created by virtue of article 2, chapter 13, Title 43, of the Revised Statutes shall then cease to exist as a separate pension fund in said city, subject, however, to the provisions of this section 12 of this act.
All pensions and other benefits allowed prior to the effective date of this act, under the statute hereinabove specified governing such former pension fund, shall thereafter be paid from the retirement system herein created and according to the provisions of the statutes governing such former pension fund, except as herein otherwise provided. It is the intention of this act that all existing obligations of said former pension fund on account of pensioners and beneficiaries of the fund as of the date of transfer as aforesaid, are assumed and shall be discharged by the retirement system herein created, and such benefits allowed under said former pension fund shall not be diminished or impaired; provided, however, that nothing in this act shall affect the payment or the rates of contributions required of pensioners receiving benefits under said former pension fund on the effective date of this act.
L.1964, c. 275, s. 12.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.62 - Pension commission

43:13-22.62. Pension commission
A pension commission shall be created in every city of the first class, as defined in this act, which shall consist of the following members:
(a) The mayor or other chief executive of such city;
(b) The chief financial officer of such city;
(c) Two city employees of such city who shall be nominated and elected at a meeting of the city employees of such city held on the third Wednesday of December of every second year. Their term of office shall be for 2 years commencing January 1 following their election; and
(d) A citizen of such city who holds no office under such city, who shall be selected by the other 4 members of the commission and shall hold office for the term of 1 year.
In case of vacancy for any cause, the commission may fill such vacancy until the next election.
The commission shall hold its annual meetings on the first business day of January in each year and elect its president, and such other officers as it deems advisable. The commission shall also at such meeting elect a secretary from or outside of the city employees, whose compensation the commission shall have power to fix.
As of the effective date of this act and until such time as the full membership of the pension commission shall be completed in accordance with the provisions of this act, the powers, duties and obligations of the commission, as provided in this act, shall be assumed by the pension commission of the pension fund of the city in existence on said date created under and by virtue of article 2, chapter 13, Title 43, of the Revised Statutes.
L.1964, c. 275, s. 13.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.63 - Powers and duties of pension commission

43:13-22.63. Powers and duties of pension commission
All retirements shall be made and pensions allowed under this act by the commission.
The commission shall have control and management of the fund and of the retirement of the members of the system and may make all necessary rules and regulations regarding the same not inconsistent with this act.
The members of the commission shall be the trustees of the fund and shall have full power to invest and reinvest the fund, subject to all the terms, conditions, limitations and restrictions imposed by the laws of the State upon life insurance companies in the making and disposing of their investments; and subject to like terms, conditions, limitations, and restrictions, such trustees shall have full power to hold, purchase, sell, assign, transfer, and dispose of any securities and investments in which the fund shall have been invested, as well as the proceeds of such investments; provided, however, that no restrictions as to the percentages of various classifications of investments now or hereafter described by the statutes establishing legal investments for life insurance companies under the laws of the State shall be applicable.
The commission shall deposit the fund in any depository lawful for the deposit of municipal funds.
Any agreement, release, acquittance, satisfaction, and any and all other documents which may be required in the management of the fund shall be executed by the president and secretary on behalf of the commission.
The commission shall make an annual report of the condition of the fund and the manner in which the same is invested.
L.1964, c. 275, s. 14.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.64 - Appointment of attorney, physician and actuary

43:13-22.64. Appointment of attorney, physician and actuary
The commission shall appoint an attorney and shall secure the services of such physician or physicians as shall be necessary to make the medical examinations required by this act.
The commission shall appoint an actuary who shall be the technical adviser of the commission on matters regarding the operation of the system and shall perform such other duties as are required in connection therewith.
The actuary shall recommend, and the commission shall keep in convenient form, such data as shall be necessary for the actuarial valuation of the retirement system. Once in every 5-year period after the effective date of this act, the actuary shall make an actuarial investigation into the mortality, service and salary experience of the members and dependents of the retirement system, and each year after such date shall make an actuarial valuation of the assets and liabilities of the system.
Upon the basis of such investigations and valuations the pension commission shall:
(a) Adopt for the retirement system such mortality, service and other tables as shall be deemed necessary.
(b) Certify the rates of contribution expressed as a percentage of the compensation of members which shall be made by the city to the fund.
L.1964, c. 275, s. 15.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.65 - Unlawful action--bar to pension

43:13-22.65. Unlawful action--bar to pension
If any member shall become incapacitated from or shall lose his life in the performance or commission of any unlawful act which would warrant his dismissal from the employ of the city, no pension shall be paid to such member or to his widow, her husband, his or her children or dependent parents.
L.1964, c. 275, s. 16.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.67 - Loans from retirement system.

43:13-22.67 Loans from retirement system.
1. Any member who has at least three years of service credit for which contributions have been made as a member may borrow from the retirement system an amount equal to not more than 50% of the amount of the member's aggregate contributions, but not less than $1,000.00. Any loan from the retirement system must satisfy the requirements of the federal Internal Revenue Code of 1986, as amended, regulations of the United States Treasury Department, and other directives or guidance of the federal Internal Revenue Service. At the time a loan is made, a loan amount shall not result in the projected required loan payments, including interest contained in the payment, for the following calendar year exceeding 25% of the member's annual salary at the time the loan is made. If a member's salary is uncertain at that time, the commission shall use a reasonable estimate of the member's expected salary to impose this 25% limitation. The amount so borrowed, together with interest at a rate fixed by the commission on any unpaid balance, shall be repaid to the retirement system in equal installments by deduction from salary or in another manner and in amounts which the commission shall approve; but the installments shall be at least equal to the member's contribution to the retirement system and at least sufficient to repay the amount borrowed with interest at the conclusion of a term fixed by the commission. No more than two loans may be made to any member in any 12-month period. The retirement system shall make no loan to a member after the member has terminated employment with the city.
Interest charged for loans to members shall be fixed annually by the commission to take effect January 1 of each calendar year at a rate equal to the average of the daily rates of interest at constant maturity based on daily trades paid by 30-year United States Treasury bonds for the period beginning on the first and ending on the 30th day of the immediately preceding November plus 1%, or 10%, whichever is less. The interest earned from loans to members shall be treated in the same manner as interest from investments of the retirement system.
L.1987, c.171, s.1; amended 2003, c.167, s.1; 2013, c.282, s.8.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.68 - Repayment.

43:13-22.68 Repayment.
2. a. Notwithstanding any other law affecting the salary or compensation of a borrowing member to the contrary, including any law restricting the amount or level of deductions from an employee's salary or compensation, the additional deductions required to repay the loan shall be made as necessary to comply with the requirements governing loans from the retirement system pursuant to section 1 of P.L.1987, c.171 (C.43:13-22.67).
b. If a member employed by the city fails to make timely payments on the member's outstanding loan, the retirement system shall offset, to the extent possible, a member's benefit for the unpaid loan balance, including interest accrued, and shall report the unpaid loan balance as taxable income to the member pursuant to the federal Internal Revenue Code of 1986, as amended.
c. If a member terminates employment with the city without commencing the receipt of a benefit under the retirement system, any unpaid loan balance, including interest accrued, shall become immediately due and payable. If the unpaid loan balance is not repaid by the time set by the commission, the member's remaining benefit in the retirement system shall be reduced by the unpaid loan balance, including interest accrued, at the time of the reduction. The unpaid loan balance and accrued interest shall be reported to the federal Internal Revenue Service as income pursuant to the federal Internal Revenue Code of 1986, as amended.
d. If a member terminates employment with the city and commences the receipt of a benefit under the retirement system, the unpaid loan balance, including interest accrued, shall be deducted from the benefit otherwise payable. Such deduction shall be applied as follows:
(1) If a member elects to receive a single-sum payment of the member's benefit, the amount paid to the member shall be reduced by the unpaid loan balance, including interest accrued.
(2) If a member elects to receive the member's benefits as an annuity, loan payments, including interest, shall be deducted from the benefit payments.
e. The retirement system shall administer the provisions of subsections b., c. and d. of this section in compliance with the requirements of the federal Internal Revenue Code of 1986, as amended.
f. If a member or retiree dies before the outstanding balance of the loan and interest has been repaid, the remaining balance shall be repaid from the proceeds of any other benefits payable on the account of the member or retiree, such as monthly payments to the member's beneficiaries or lump sum payments for pension or group life insurance.
L.1987, c.171, s.2; amended 2013, c.282, s.9.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.69 - Terms defined

43:13-22.69. Terms defined
As used in sections 7 through 13 of this act:
"Retirant" means any former employee included in the membership of the pension fund established under P.L.1964, c.275, who has retired from such employment and who has or shall have received from the fund a retirement allowance or pension, based upon such employment, for not less than 24 months.
"Employer" means the city in which a pension fund has been created under P.L.1964, c.275.
"Beneficiary" means any beneficiary who has or shall have received a pension or survivorship benefit from the fund for no less than 24 months.
"Calendar year" means the 12-month period beginning January 1 and ending December 31.
"Retirement year" means the calendar year 1988 for all retirants who retired before the calendar year 1989; for all retirants who shall have retired after 1988, "retirement year" is the actual calendar year of retirement.
"Index" means the annual average over a calendar year of the Consumer Price Index for Urban Wage Earners and Clerical Workers, All Items Series A, of the United States Department of Labor (1957-1959=100). Should the reference base of that index be changed, the index used to determine the Consumer Price Index as defined herein will be the index converted to the new base by standard statistical methods.
"Retirement year index" means the index of the calendar year 1988 for all retirants who retired prior to January 1, 1989 and the index for the calendar year of retirement for all retirants who retired thereafter.
L.1990,c.20,s.7.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.70 - Adjustment to monthly retirement allowance or pension

43:13-22.70. Adjustment to monthly retirement allowance or pension
The monthly retirement allowance or pension originally granted to any retirant and the pension or survivorship benefit originally granted to any beneficiary shall be adjusted in accordance with the provisions of this act.
Pension increases shall not be paid to retirants or beneficiaries who are not receiving their regular, full, monthly retirement allowances, pensions or survivorship benefits. The adjustment granted under the provisions of this act shall be effective only on the first day of a month, shall be paid in monthly installments, and shall not be decreased, increased, revoked or repealed except as otherwise provided in this act. No increase shall be due to a retirant or his beneficiary unless it constitutes a payment for an entire month.
L.1990,c.20,s.8.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.71 - Adjustment cost to employer; appropriation to be made

43:13-22.71. Adjustment cost to employer; appropriation to be made
The employer shall bear the cost of the adjustment in the retirement allowances or pensions payable to retirants who retired from the employ of that employer and the cost of the survivorship benefits or pensions payable to beneficiaries of active or retired members who were in the employ of that employer at the members' death or retirement. The employer shall appropriate the amount in the fiscal year next following, taking into account payments made to retirants of the employer and their beneficiaries and prospective payments to be made to those retirants in the following year.
The increase in retirement benefits, pensions and survivorship benefits provided for under this act shall commence with retirement allowance, pension and survivorship benefit payments for the month of January 1990, provided that there is appropriated the amount certified by the Director of the Division of Pensions of the Department of the Treasury to the Director of the Division of Budget and Accounting as set forth in the "Pension Adjustment Act," P.L.1969, c.169 (C.43:3B-1 et seq.). In the case of any retirant or beneficiary first becoming eligible to receive an adjustment under the provisions of this act, such adjustment shall be paid beginning in the 25th month in which the retirant or beneficiary is entitled to receive the retirement allowance, pension or survivorship benefit. The adjustment in retirement allowances, pensions and survivorship benefits shall continue to be paid as long as there shall be appropriated the amounts so certified. In the event that the necessary funds are not so appropriated, the adjustment in retirement allowances, pensions and survivorship benefits shall cease; no further payments shall be made by the employer; and a refund shall be made by the retirement system to the employer of any balance unexpended on its account.
L.1990,c.20,s.9.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.72 - Written notice of waiver

43:13-22.72. Written notice of waiver
Any person who is eligible to receive the increased retirement allowance, pension or survivorship benefit under the provisions of this act may, at any time, waive that right by filing a written notice of waiver with the retirement system. The application for the waiver of all or part of the increase shall be made by the retirant or beneficiary at least 30 days prior to the desired effective date on a form satisfactory to the retirement system and shall be effective on the first day of the following month. Such waiver may be withdrawn at any time and upon such withdrawal the increase in the retirement allowance, pension or survivorship benefit shall commence with the payment for the next following month.
L.1990,c.20,s.10.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.73 - Calculation of pension adjustment.

43:13-22.73 Calculation of pension adjustment.
11. On or before October 1, 1996 and by the same date in each subsequent year, the Director of the Division of Pensions and Benefits of the Department of the Treasury shall review the index and determine the percentum of change in the index from the retirement year index pursuant to the provisions of the "Pension Adjustment Act," P.L.1958, c.143 (C.43:3B-1 et seq.). The percentage of adjustment in the retirement allowances, pensions and survivorship benefits shall be one-half of the percentum of change in the index. Any adjustment so calculated shall apply to all of the months of the following calendar year for eligible retirants and beneficiaries, except that for those qualifying for the first time, it shall apply only to those months of the following calendar year in which the retirant or beneficiary is eligible to receive the adjustment.
On the basis of information certified to the director by the retirement system concerning the amounts of all retirement allowances, pensions and survivorship benefits of eligible retirants and beneficiaries which are subject to adjustment under sections 7 through 13 of P.L.1990, c.20 (C.43:13-22.69 through 22.75), and any other relevant matters as the director may require, the director shall certify to the retirement system the amounts required to fund the benefits provided under those sections for the applicable year. The director shall include in that certification amounts sufficient to adjust the retirement allowances, pensions or survivorship benefits payable to all eligible retirants and beneficiaries by the percentum of change in the index as such retirement allowances or pensions may have been originally granted, or increased for certain retirants and beneficiaries in accordance with the provisions of the "Pension Adjustment Act."
In no instance shall the amount of the retirement allowance, pension or survivorship benefit originally granted and payable to any retirant or beneficiary be reduced as a result of this adjustment.
L.1990, c.20, s.11; amended 1996, c.101, s.4; 2003, c.167, s.2; 2013, c.282, s.10.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.74 - Termination of increases if blanket increase in benefits adopted

43:13-22.74. Termination of increases if blanket increase in benefits adopted
If legislation is adopted providing for a blanket increase in the original retirement allowances, pensions or survivorship benefits or for minimum allowances, pensions or benefits to any group of retirants or beneficiaries eligible for benefits under P.L.1964, c.275 (C.43:13-22.50 et seq.), other than legislation which shall have been enacted on or before the effective date of P.L.1990, c.20 (C.43:13-22.69 et al.), all increases provided under this act shall be terminated on the first of the month when such blanket increases or minimum allowances, pensions or benefits are payable, except in those instances where the retirant's or beneficiary's original allowance, pension or benefit plus the increases provided under this act will exceed the amounts payable to such retirant or beneficiary as a result of such other legislation; in such event the amount payable under this act shall be the difference between the new allowance, pension or benefit payable by the pension fund and the amount which would otherwise have been paid under this act. Any subsequent annual review of amounts payable under this act for such retirants and beneficiaries shall continue to be determined on the basis of the original allowance, pension benefit as granted by the pension fund prior to any blanket increase or provision for minimum retirement allowances, pensions or survivorship benefits for any group of retirants or beneficiaries eligible for benefits under this act.
L.1990,c.20,s.12.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-22.75 - Rules, regulations

43:13-22.75. Rules, regulations
The Director of the Division of Pensions of the Department of the Treasury shall promulgate such rules and regulations, not inconsistent with the provisions of the "Pension Adjustment Act," P.L.1969, c.169 (C.43:3B-1 et seq.) and this act, as the director shall deem necessary for the effective operation of the program. The director shall include a report of the operation of this act with his report of the operation of the "Pension Adjustment Act" in the annual report submitted to the Governor and the Legislature regarding all of the operations of the Division of Pensions. The retirement system shall furnish such information as the director may request for this purpose.
L.1990,c.20,s.13.
2023 New Jersey Revised Statutes › Title 43 - Pensions and Retirement and Unemployment Compensation › Section 43:13-23 - Definitions

43:13-23. Definitions
As used in this article, "a year of service" shall consist of such part of the calendar year as the life guard force is normally employed and the "year's salary" means the salary a life guard receives during the time of his normal employment in any calendar year. If the salary is payable on a per diem basis the pension commission may determine the length of service and the amount of the year's salary by averaging the salary theretofore received by the life guard or officer during the then past three years or in any other equitable manner and may determine in that case what constitutes a year's salary and a year's service.