New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 2 - PUBLIC EMPLOYEES' RETIREMENT SYSTEM › Subchapter 1A - DEFINITIONS › Section 17:2-1A.1 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this chapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise:
"Base salary" means the annual compensation of a member, plus
				  the value of maintenance, if applicable, in accordance with contracts,
				  ordinances, resolutions, or other established salary policies of the member's
				  employer for all employees in the same position, or all employees covered by
				  the same collective bargaining agreement, which is paid in regular, periodic
				  installments in accordance with the payroll cycle of the employer.
"Board" means the Board of Trustees of the Public Employees'
				  Retirement System, vested with the general responsibility for the proper
				  operation of the System pursuant to
				  43:15A-17.
"Break in service" means any pension reporting period without
				  pay, a monthly or biweekly pay period, as appropriate to the employer's
				  reporting method, with the exception of approved leaves of absence, lay-off,
				  abolishment of position, military leave, Workers' Compensation, litigation, or
				  suspension.
"DCRP" means the Defined Contribution Retirement
				  Program.
"Division" means the Division of Pensions and Benefits,
				  Department of the Treasury, in the State of New Jersey.
"Employers Pensions and Benefits Information Connection" or
				  "EPIC" is a set of Internet-based applications that allow registered employers
				  who have obtained authorization by the certifying officer of the location
				  access to manage their employees' pensions and, if applicable, health benefits
				  account information. The specific group of application buttons that are visible
				  will depend on the type of employer and the level of access authorized by the
				  certifying officer of the location.
"Extra compensation" means individual salary adjustments,
				  which are granted primarily in anticipation of a member's retirement; or as
				  additional remuneration (pay) for performing temporary duties beyond the
				  regular work day or work year.
"Final compensation" means the average annual compensation
				  for which contributions are made for the three years of creditable service in
				  New Jersey immediately preceding the member's retirement or death, or it shall
				  mean the average annual compensation for New Jersey service for which
				  contributions are made during any three fiscal years of his or her membership
				  providing the largest possible benefit to the member or the member's
				  beneficiary, for PERS members enrolled before May 21, 2010. In the case of a
				  person who becomes a member of the PERS on or after May 21, 2010, the effective
				  date of P.L.
				  2010, c. 1, "final
				  compensation" means the average annual compensation for which contributions are
				  made for the five years of creditable service in New Jersey immediately
				  preceding the member's retirement or death, or it shall mean the average annual
				  compensation for New Jersey service for which contributions are made during any
				  five fiscal years of his or her membership providing the largest possible
				  benefit to the member or the member's beneficiary.
"Full cost purchase" means a purchase of service credit for
				  which the member assumes the entire cost of the purchase.
"Independent medical examiner" or "IME" means the physician
				  or group of physicians contracted by the Division to perform an independent
				  medical evaluation on disability retirement applicants.
"Member Benefits Online System" or "MBOS" is a set of
				  Internet-based applications that allow registered members access to manage
				  their pension and, if applicable, health benefits account information.
"Medical Review Board" or "MRB" consists of three physicians,
				  each responsible for reviewing all medical documentation submitted in relation
				  to any applications submitted for ordinary or accidental disability
				  retirement.
"Shared cost purchase" means a purchase of service credit for
				  which the member and employer share the cost of the purchase equally.
"System" or "PERS" means the Public Employees' Retirement
				  System, created pursuant to
N.J.S.A.
				  43:15A-1
et seq.
"Treating physician" is defined as someone who provides the
				  member, or has provided the member, with medical treatment on an ongoing
				  basis.
"TPAF" means the Teachers' Pension and Annuity Fund, created
				  pursuant to
				  18A:66-56.
"Work year" means either a 10-month contracted employee who
				  works from September through June of each year and is compensated for each
				  month or a 12-month contracted employee who works throughout the year and is
				  compensated for each month.