reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 12 - ACCOUNTS › Section 17:6-12.1 - Account statement or confirmation

Current through Register Vol. 56, No. 14, July 15, 2024
Each account statement or confirmation furnished by (or on
				  behalf of) the Plan Administrator is intended as a legally significant
				  statement of the accrued benefit under the Retirement Plan. As to each account
				  statement or confirmation, if, by the date that is 180 days after the date that
				  the statement or confirmation was mailed or otherwise sent or delivered, the
				  participant, beneficiary, or alternate payee has not delivered a written
				  objection as to the accuracy of the statement or confirmation, the accounting
				  reported is then settled and conclusive and an account stated. If an objection
				  to any account statement or confirmation is withdrawn or is adjusted to the
				  participant's, beneficiary's, or alternate payee's satisfaction, the accounting
				  is then settled and conclusive and an account stated. To the extent that an
				  account statement or confirmation is an account stated, the Plan Administrator
				  and DSP are discharged from any liability that might otherwise arise out of the
				  account as fully as if the account had been settled by an appropriate court
				  proceeding.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 12 - ACCOUNTS › Section 17:6-12.2 - Account balance

Current through Register Vol. 56, No. 14, July 15, 2024
The account balance is the total amount or value of the
				  account (or sub-account or separate account as applicable) reduced by any
				  applicable investment option or trust charges, fees, expenses, and taxes. At
				  any time, the amount or value of any account or sub-account is the applicable
				  account balance as of the last valuation date.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 13 - ROLLOVERS › Section 17:6-13.1 - Direct rollover of funds to other plans

Current through Register Vol. 56, No. 14, July 15, 2024
Consistent with IRC § 401(a)(31), for any distribution
				  that is an eligible rollover distribution, the distributee may elect, at the
				  time and in the manner prescribed by the Plan Administrator, to instruct the
				  DSP to have any portion of an eligible rollover distribution paid directly to
				  an eligible Retirement Plan specified by the distributee.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 13 - ROLLOVERS › Section 17:6-13.3 - Rollover of funds from other plans

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Retirement
				Plan will accept participant rollover contributions and/or direct rollovers of
				eligible rollover distributions made after December 31, 2001, as described
				below:
1. Pre-tax contributions from a
				qualified plan described in IRC §§ 401(a), 401(k) or 403(a), an
				annuity contract described in IRC § 403(b) and an eligible deferred
				compensation plan described in IRC § 457(b) which is maintained by an
				eligible governmental employer under IRC § 457(e)(1)(A); and
2. A participant rollover of the portion of a
				distribution from an individual retirement account or annuity described in IRC
				§§ 408(a) or 408(b) that is eligible to be rolled over and would
				otherwise be includible in gross income.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 13 - ROLLOVERS › Section 17:6-13.4 - Eligible rollover distribution payable without delay

Current through Register Vol. 56, No. 14, July 15, 2024
The Plan Administrator may (but is not required to)
				  authorize commencement of the eligible rollover distribution less than 30 days
				  after giving an eligible rollover distribution notice only if the following
				  requirements are met. To the extent required by IRC § 402(f) and Treasury
				  Reg. § 1.402(c)-2, the Plan Administrator or DSP must inform the
				  distributee in an eligible rollover distribution notice or otherwise that the
				  distributee has a right to a period of at least 30 days after receiving the
				  eligible rollover distribution notice to consider the decision of whether to
				  elect such a distribution and any available payment option, and the distributee
				  after receiving the eligible rollover distribution notice must affirmatively
				  elect such a distribution.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.1 - Claim for distribution

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any
				distribution under the Retirement Plan shall be paid only upon a claim made on
				the applicable form, and submission of additional information requested by the
				Plan Administrator, including, but not limited to:
1. If the distribution is made under
				17:6-11.1, appropriate evidence
				that the participant has a severance from employment;
2. If the distribution is an eligible
				rollover distribution (as defined in
				17:6-13.2 ), the distributee's
				instruction as to whether the distribution (or a portion of the distribution)
				is to be paid directly to an eligible retirement plan (as defined in
				17:6-13.2 ), and if any amount is
				to be paid directly to such an eligible Retirement Plan, the name and address
				of the trustee or plan administrator of that eligible Retirement Plan together
				with any other information that the Plan Administrator or DSP reasonably
				requests pursuant to Treasury Reg. § 1.401(a)(31)-1T;
3. If the distribution is made on account of
				the participant's death, appropriate evidence of the participant's
				death;
4. Whenever required by the
				Plan Administrator, the date of birth of any person as relevant to the
				distribution;
5. If the account
				consists of more than one investment option, the order in which any investment
				options are to be charged or redeemed to pay the distribution;
6. Any other evidence or information that the
				Plan Administrator finds is relevant to administer a provision of the
				Retirement Plan in the participant's, beneficiary's or other distributee's
				circumstances;
7. Absent contrary
				evidence actually known to the Plan Administrator, an appropriate death
				certificate or a court order stating that the participant is found to be absent
				and presumed dead shall constitute appropriate evidence of the participant's
				death; and
8. If the distributee
				fails to submit proper instructions, the Plan Administrator may to the extent
				provided by the investment option contract determine which Plan investment
				option(s) are to be charged.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.2 - Minimum advance notice

Current through Register Vol. 56, No. 14, July 15, 2024
The Plan Administrator may require for payment of any
				  distribution a minimum advance notice, uniformly determined and consistently
				  applied.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.3 - Payor may rely on apparent entitlement

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Plan
				Administrator and the DSP are not liable for having made a payment under an
				unclear beneficiary designation or participation agreement to a person not
				entitled to the payment, or for having taken or omitted any other action in
				good faith reliance on a person's apparent entitlement under the Retirement
				Plan, before the payor actually received written notice of a claimed lack of
				entitlement under the Retirement Plan.
(b) Any payor of any distribution is not
				liable for having made a payment or having transferred an item of property to a
				beneficiary designated in a beneficiary designation (or in a similar writing
				reasonably believed to constitute a beneficiary designation) who is not
				entitled to the distribution, or for having taken any other action in good
				faith reliance on the beneficiary's apparent entitlement under the terms of the
				beneficiary designation before the payor received written actual notice
				alleging that the beneficiary was not entitled to the distribution.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.4 - Valuation of payments

Current through Register Vol. 56, No. 14, July 15, 2024
Except to the extent otherwise expressly provided by the
				  investment option(s), any payment or payment option shall be determined as of
				  the valuation date requested by the participant or beneficiary, or if later, as
				  of the valuation date that next follows the DSP's or Trustee's receipt in good
				  order (within the meaning of the investment option(s) or applicable law) of a
				  request for payment approved by the Plan Administrator.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.5 - Delay of payment

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Plan
				Administrator may delay approval of a distribution and the DSP may delay
				payment of an approved distribution:
1. To
				receive any necessary information;
2. To permit a valuation of the
				account;
3. To permit any necessary
				or appropriate liquidation of assets;
4. If a dispute arises as to the proper
				payee;
5. If the Plan Administrator
				or the DSP has written notice of a domestic relations case or petition that may
				involve the applicable account;
6.
				If the Plan Administrator or the DSP has written notice of a bankruptcy case or
				petition that may involve the applicable account;
7. If the Plan Administrator or the DSP has
				notice of any legal proceeding or petition that may involve the applicable
				account;
8. For any reason
				described elsewhere in this chapter;
9. For any other lawful purpose;
10. Without limiting the comprehensive effect
				of (a)1 through 9 above, to the extent that any distribution requires a
				redemption or transfer of an investment option's shares, the Plan Administrator
				shall delay the distribution during any period when the NYSE is closed other
				than for a weekend or a holiday, or when trading on the NYSE is restricted (as
				determined by the SEC), or when an emergency exists making disposal of an
				investment option's securities or valuation of an investment option's net
				assets not reasonably practicable, or when the SEC has required or permitted
				the suspension of redemptions or transfers by order, or during any period
				otherwise described by section 22(e)(1) through (3) of the Investment Company
				Act of 1940, as amended ( 15 U.S.C. § 80a-
				22(e)(1)
				through (3) ). Also, the Plan Administrator
				or the DSP may delay any distribution if doing so is necessary or appropriate
				to avoid exceeding an investment option's "large transaction amount"
				requirement that applies to the Trust; or
11. If the participant received an allocation
				of employer contributions for a period that included his or her absence under a
				Federal or state Family and Medical Leave Act, the Plan Administrator shall
				delay payment of any distribution until the Plan Administrator is satisfied
				that the participant has returned to work from such absence or that the
				participant will not or did not return to work from such absence.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.6 - Dispute as to proper recipient

Current through Register Vol. 56, No. 14, July 15, 2024
If a dispute arises as to the proper recipient of any
				  payment(s) under the Retirement Plan, the Plan Administrator, in his or her
				  sole discretion, may instruct the DSP to withhold payment until the dispute is
				  determined by a court of competent jurisdiction or is settled by the parties
				  concerned.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.7 - Distribution to minor beneficiary

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If a
				distribution under the Retirement Plan is to be made to a minor beneficiary,
				any payment(s) may, except to the extent prohibited by applicable law, be paid
				to a responsible person according to the following order. If the amount is
				under $ 10,000 per year:
1. As instructed by
				an appropriate court pursuant to a written court order which has been provided
				to the Plan Administrator before the distribution is made;
2. To the duly court-appointed and currently
				acting conservator of the beneficiary, evidence of which has been provided to
				the Plan Administrator before the distribution is made;
3. To the duly appointed and currently active
				guardian of the beneficiary, evidence of which has been provided to the Plan
				Administrator before the distribution is made;
4. To the custodial parent of the
				beneficiary;
5. To a custodial
				adult with whom the beneficiary maintains his or her residence; or
6. To the court having jurisdiction over the
				estate of the beneficiary.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.8 - Distribution to incompetent participant, beneficiary or alternate payee

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If a
				participant, beneficiary, or alternate payee is unable to manage property
				effectively for any reason including, but not limited to, mental illness,
				mental deficiency, physical illness, physical disability, chronic use of drugs,
				chronic intoxication, confinement, detention by a foreign power, or
				disappearance, any payment may be paid according to the terms of the applicable
				investment option(s) (if any) or according to applicable investment law (if
				any), or the Plan Administrator may direct payment(s) according to the
				following order:
1. As instructed by an
				appropriate court pursuant to a written court order;
2. To the duly court-appointed and currently
				acting conservator of the participant, beneficiary, or alternate
				payee;
3. To the duly
				court-appointed and currently acting legal guardian of the estate of the
				participant, beneficiary, or alternate payee;
4. To the duly appointed and currently acting
				attorney-in-fact under a durable power-of-attorney if the Plan Administrator
				finds that the power-of-attorney provides sufficient power to authorize the
				attorney-in-fact to receive the benefit; or
5. To the court having jurisdiction over the
				estate of the participant, beneficiary, or alternate payee.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.9 - Payment to personal representative

Current through Register Vol. 56, No. 14, July 15, 2024
Any payment (or delivery of property) to the duly appointed
				  personal representative of the participant shall, to the extent of the payment
				  (or delivery of property), bar recovery by any other person or entity,
				  including every beneficiary, and shall, to the extent of the payment (or
				  delivery of property), discharge any obligation under the Retirement Plan.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 14 - ADMINISTRATION OF DISTRIBUTIONS › Section 17:6-14.10 - Disclaimer by beneficiary

Current through Register Vol. 56, No. 14, July 15, 2024
Any beneficiary may renounce or disclaim all or any part of
				  any benefit by filing a written irrevocable disclaimer not later than 31 days
				  before the distribution begins or any payment is otherwise to be made and
				  before acceptance of any benefit. An acceptance may be express or may be
				  inferred from actions or facts and circumstances, including, but not limited
				  to, those actions described in Title 3B of the New Jersey Statutes as
				  establishing an inference of acceptance. In addition to any requirements under
				  State law, the disclaimer is not effective unless the disclaimer describes the
				  benefit renounced, expressly declares the renunciation and the extent of it,
				  expressly states the beneficiary's belief upon reasonably diligent examination
				  that no creditor of the beneficiary (or, if the beneficiary is an executor or
				  trustee or guardian or other fiduciary, of any current or reasonably
				  anticipated beneficiary of the estate or trust or guardianship or other
				  fiduciary relationship or entity) would be adversely affected by the
				  disclaimer, expressly states that the disclaimer is irrevocable, is signed by
				  the beneficiary, meets all requirements of IRC § 2518 such that the
				  disclaimer would be treated as effective for Federal gift and estate tax
				  purposes, and otherwise is made in a form that is acceptable to the Plan
				  Administrator. Notwithstanding any State law that would permit otherwise, if
				  the beneficiary is a minor or an incapacitated person, any disclaimer cannot
				  have any effect regarding the Program until the court having jurisdiction of
				  the minor's or incapacitated person's estate authorizes the disclaimer after
				  finding that it is advisable and will not materially prejudice the rights of
				  any interested person. Any benefit disclaimed shall be payable as if the
				  beneficiary who submitted the disclaimer died before the participant.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.1 - Plan Administrator has full authority

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Plan
				Administrator has full and complete authority and discretion to control and
				manage the operation of the Program. The Plan Administrator has any and all
				powers as may be necessary or advisable to discharge its duties under the
				Program, and has complete discretionary authority to decide all matters and
				questions under the Program.
(b)
				Without limiting the comprehensive effect of (a) above, the Plan
				Administrator's discretionary decisions may include, but shall not be limited
				to, any decision as to:
1. Whether a natural
				person is an employee;
2. Whether
				an employee belongs to a particular employment classification;
3. Whether an employee is an eligible
				employee, the amount of a participant's base salary, and the amount of
				contributions to be made;
4.
				Whether an amount of contributions exceeds the limits prescribed by the
				Retirement Plan or applicable law;
5. Whether a payment option is an annuity
				payment option;
6. Whether a
				participant has a severance from employment;
7. Whether a beneficiary designation is valid
				or effective, and who is the proper beneficiary;
8. Whether a participant or beneficiary is a
				minor or incompetent, the person who is a proper recipient for a participant or
				beneficiary who is a minor or an incompetent; and
9. Whether any power-of-attorney is effective
				and acceptable to act with respect to the Program.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.2 - DSP responsibilities

Current through Register Vol. 56, No. 14, July 15, 2024
Each DSP will be responsible for participant communication,
				  administration, recordkeeping, and investment management services as set forth
				  in the applicable RFP and response/proposal submitted by the DSP and the
				  contracts entered into pursuant to those documents.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.3 - Determinations to be uniformly made

Current through Register Vol. 56, No. 14, July 15, 2024
To the extent required by the enabling statute, any
				  determination or decision required or permitted to be made for the purposes of
				  the Program, or any Plan under the Program, by the Plan Administrator shall be
				  uniformly and consistently made according to reasonable procedures established
				  and maintained by the Plan Administrator.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.4 - Plan Administrator responsibilities

Current through Register Vol. 56, No. 14, July 15, 2024
The Plan Administrator is responsible for performing or
				  delegating to the DSP all duties required for the operation of the Program and
				  each Plan under the Program. The Plan Administrator is responsible for
				  supervising the performance of the DSP.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.5 - Information from employer

Current through Register Vol. 56, No. 14, July 15, 2024
To enable the Plan Administrator to perform his or her
				  responsibilities, the employer shall promptly provide to the Plan Administrator
				  complete and accurate information on any matter that is required by the Plan
				  Administrator in order to make any decision or determination under the Program.
				  The Plan Administrator shall rely upon this information as supplied by the
				  employer, and shall have no duty or responsibility to verify this information.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.6 - Plan Administrator may delegate or contract

Current through Register Vol. 56, No. 14, July 15, 2024
(a) To the extent
				permitted by the enabling statute or other State law, the Plan Administrator
				may, except when expressly prohibited by this Program, delegate any of his or
				her duties to any DSP or employer as appropriate.
(b) The Plan Administrator may contract with
				any person to provide services to assist in the administration of the Program.
				The Plan Administrator must make such contracts in compliance with the enabling
				statute and other applicable State and local law.
(c) Any person other than the Plan
				Administrator who performs services regarding the Program, including, but not
				limited to, a DSP, is subject to the supervision and direction of the Plan
				Administrator, and does not have authority to control the operation of the
				Program.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.7 - Plan Sponsor's right to terminate the Program

Current through Register Vol. 56, No. 14, July 15, 2024
The Plan Sponsor may terminate or discontinue the Program,
				  or any Plan under the Program, at any time.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 15 - PLAN ADMINISTRATION › Section 17:6-15.8 - Final allocation

Current through Register Vol. 56, No. 14, July 15, 2024
If on termination of the Retirement Plan any amount is not
				  allocated, all such amounts will be allocated among participants in the ratio
				  of each participant's total account balance on the valuation day that
				  immediately precedes this allocation to the total account balances of all
				  participants on such valuation day.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.1 - Anti-alienation

Current through Register Vol. 56, No. 14, July 15, 2024
To the extent allowed by law, any benefit or interest
				  available under a Plan, or any right to receive or instruct payments under a
				  Plan, or any distribution or payment made under the Program, or any Plan under
				  the Program, shall not be subject to assignment, alienation, garnishment,
				  attachment, transfer, anticipation, sale, mortgage, pledge, hypothecation,
				  commutation, execution, or levy, whether by the voluntary or involuntary act of
				  any interested person under a Plan, except (with respect to the Retirement
				  Plan) for an interest which becomes payable pursuant to a Qualified Domestic
				  Relations Order. However, the preceding sentence shall not be construed to
				  preclude the payment of any fees or expenses (including taxes) of the issuer(s)
				  or the trust under the Retirement Plan.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.2 - Levy or judgment

Current through Register Vol. 56, No. 14, July 15, 2024
Notwithstanding any other provision of the Retirement Plan,
				  the Plan Administrator may pay to the Internal Revenue Service or Federal
				  agency from a participant's, beneficiary's, or alternate payee's account the
				  amount that the Plan Administrator finds is demanded under an Internal Revenue
				  Service levy or Federal restitution order with respect to that participant,
				  beneficiary, or alternate payee or is sought to be collected by the United
				  States under a judgment resulting from an unpaid tax assessment or restitution
				  order against the participant, beneficiary, or alternate payee.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.3 - Audit

Current through Register Vol. 56, No. 14, July 15, 2024
The Plan Administrator may engage a public accountant to
				  audit or review the financial statements and/or internal control procedures
				  with respect to the Program, and any fees paid or incurred for such audit or
				  review and related accounting and auditing services shall be an expense that
				  may be charged to the DSP according to their contract. To the extent the audit
				  is not paid by the DSP, the expense can be charged to all participants'
				  accounts in an equitable manner determined by the Plan Administrator.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.4 - Claims procedure

Current through Register Vol. 56, No. 14, July 15, 2024
(a) By the terms of
				the Program, the claimant (or other aggrieved person) shall not be entitled to
				take any legal action or otherwise seek to enforce a claim to benefits or
				rights under the Program until he or she has exhausted all claims and appeals
				procedures provided by the Program.
(b) In considering claims under the Program
				and/or any Plan hereunder, the Plan Administrator has full power and
				discretionary authority to construe and interpret the provisions of the Program
				or Plan.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.5 - Expenses

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The expenses
				incurred by the Plan Administrator in connection with the operation of the
				Retirement Plan, including, but not limited to, the expenses incurred by reason
				of the engagement of professional assistants and consultants, shall, unless
				payable by the employer pursuant to
				43:15C-3(b), be
				expenses of the Retirement Plan and shall be payable from the Trust fund at the
				direction of the Plan Administrator.
(b) Upon the Plan Administrator's written
				instruction, the Plan Administrator, the DSP or other person providing
				administrative services to the Retirement Plan may be reimbursed from the Trust
				Fund for any reasonable expenses approved by the Plan Administrator which are
				incurred in performing administrative services regarding the Retirement Plan.
				Except as otherwise provided or permitted, the reimbursement shall, with
				respect to the Retirement Plan, be effected by deducting a charge against all
				accounts according to an equitable method determined by the Plan
				Administrator.
(c) If the Internal
				Revenue Service determines, and the determination is not contested, or if
				contested, is finally upheld (or otherwise finally determined), or if a final
				court order (that is not appealed) decides that any payment of expenses with
				respect to the Retirement Plan is a violation of IRC § 401(a)(2), the Plan
				Administrator may assess the employers on a pro rata basis according to the
				number of participants in the Retirement Plan for these expenses.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.6 - Fiduciary responsibility

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any fiduciary
				will have only those specific powers, duties, responsibilities, and obligations
				specifically provided by the Program consistent with applicable law, or that
				are expressly required under a written agreement that is executed by or
				approved by the Plan Administrator if the written agreement is not inconsistent
				with the Program and applicable law.
(b) Each fiduciary warrants that any
				instruction or direction given, information furnished, or action taken by it
				will be according to the Program's provisions (or an instruction of the Plan
				Administrator).
(c) Each fiduciary
				will be responsible only for the proper exercise of his, her, or its own
				powers, duties, responsibilities, and obligations, and any fiduciary will not
				be liable for any act or omission (failure to act) of another fiduciary, except
				as provided in (d) below.
(d) A
				fiduciary will be liable for a breach of fiduciary responsibility of another
				fiduciary in the following circumstances:
1.
				If the fiduciary participates knowingly in, or knowingly undertakes to conceal,
				an act or omission of the other fiduciary, knowing such act or omission is a
				breach of the other fiduciary's responsibility;
2. If, by the fiduciary's failure to comply
				with his, her, or its duty in the administration of the fiduciary's specific
				responsibility that gives rise to the fiduciary's status as a fiduciary, the
				fiduciary has enabled the other fiduciary to commit a breach of the other
				fiduciary's responsibility; or
3.
				If the fiduciary has knowledge of a breach by the other fiduciary, unless the
				fiduciary makes reasonable efforts under the circumstances to remedy the
				breach.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.7 - Governing law

Current through Register Vol. 56, No. 14, July 15, 2024
The Program, and actions under or relating to the Program or
				  any Plan under the Program, and the statute of limitations for such actions
				  shall be governed by and enforced by the laws of the State of New Jersey and
				  shall be construed, to the extent that any construction beyond this chapter is
				  necessary, according to the laws of the State of New Jersey or the Internal
				  Revenue Code or other Federal law, where applicable.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.8 - Internal Revenue Service approval

Current through Register Vol. 56, No. 14, July 15, 2024
If, under any application filed by or on behalf of the
				  Retirement Plan, the Internal Revenue Service determines that the Retirement
				  Plan as amended and restated does not qualify under IRC § 401(a), and the
				  determination is not contested, or if contested, is finally upheld (or
				  otherwise finally determined), the Plan Administrator, without further
				  authorization or consent from the Plan Sponsor, may retroactively amend the
				  Retirement Plan to the earliest date permitted by Treasury Regulations to the
				  fullest extent that the Plan Administrator considers necessary to obtain an
				  Internal Revenue Service determination that the Retirement Plan qualifies under
				  IRC § 401(a).
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.9 - Mistaken contributions

Current through Register Vol. 56, No. 14, July 15, 2024
If any contribution (or any portion of a contribution) is
				  made by the employer by a good faith mistake of fact, upon receipt in good
				  order of a proper request by the Plan Administrator, the Trustee or the DSP
				  shall return the amount of the mistaken contribution(s), except as limited
				  below, to the employer. A return of a mistaken contribution will not be made if
				  the return will not be made within one year from the date of the mistaken
				  payment of the contribution, or if the participant has had a severance from
				  employment and received the distribution of his or her account. Upon any return
				  of a mistaken contribution, earnings attributable to the mistaken contributions
				  will not be returned and losses attributable to the mistaken contribution shall
				  reduce the amount to be returned.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.10 - Necessary information

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				participant, beneficiary, or alternate payee shall provide upon any request of
				the Plan Administrator or DSP any information that may be needed for the proper
				and lawful operation and administration of the Program, including, but not
				limited to, full legal name, Social Security Number (SSN) or other Taxpayer
				Identification Number (TIN), current address and current address of spouse and
				of any beneficiary(s), evidence of age, and evidence of marital status. The
				participant shall promptly respond to and fully answer any reasonable inquiry
				related to these purposes. A failure to provide any information described above
				or which otherwise may be necessary or appropriate for the lawful operation of
				the Program may result in a delay of eligibility for participation, in a delay
				of the payment of contributions, or in a delay or refusal by the Plan
				Administrator, in his or her discretion, to authorize or permit any payment to
				be made.
(b) The Plan Administrator
				(and any party acting for him or her) shall have the right to rely on any
				information or representation given by any participant or beneficiary or other
				person interested in the Program. The Plan Administrator shall have no duty to
				inquire into the accuracy or adequacy or truth of any such information or
				representation. Any such representation shall be binding upon any party seeking
				to claim a benefit through the participant.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.11 - No contract of employment

Current through Register Vol. 56, No. 14, July 15, 2024
Under no circumstances shall the Program constitute or
				  modify a contract of employment or in any way obligate the employer to continue
				  the services of any employee.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.12 - No rights other than those provided by the Program

Current through Register Vol. 56, No. 14, July 15, 2024
The establishment of the Program and the Plans under the
				  Program and the purchase of any investment option(s) under the Retirement Plan
				  shall not be construed as giving to any participant, beneficiary, alternate
				  payee or any other person any legal or equitable right against the employer or
				  the Plan Administrator or their representatives, except as is expressly
				  provided by the Program.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.13 - Taxes

Current through Register Vol. 56, No. 14, July 15, 2024
The employer and the Plan Administrator do not guarantee
				  that any particular Federal or state income, payroll, or other tax consequences
				  would occur because of participation in this Plan.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.14 - Notices

Current through Register Vol. 56, No. 14, July 15, 2024
Each participant, beneficiary, or alternate payee shall be
				  responsible for furnishing the Plan Administrator and the DSP with his or her
				  current address at all times. Any notice required or permitted to be given
				  under the Program shall be deemed given if directed to the proper person at the
				  current address in any Program (or investment option) record and mailed or
				  otherwise delivered to that address. This section shall not be construed to
				  require the mailing or the delivery of any notice otherwise permitted to be
				  given by posting or by publication.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.15 - Program is binding

Current through Register Vol. 56, No. 14, July 15, 2024
The Program, and all acts and decisions taken under it, is
				  binding and conclusive, for all purposes, upon every participant, beneficiary,
				  alternate payee, any person claiming through a participant or beneficiary or
				  alternate payee, all other interested persons, and upon the personal
				  representatives, executors, administrators, heirs, successors and assigns of
				  any and all such persons. The Program shall not affect contracts or other
				  dealings with a person who is not an interested person, unless a written
				  agreement executed by that person expressly so provides.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.16 - Power-of-attorney

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A
				power-of-attorney is not effective to permit the attorney-in-fact to submit any
				claim, instruction, direction, or consent under the Program or otherwise act
				regarding the Program, unless the Plan Administrator, in his or her discretion,
				finds that the power-of-attorney is acceptable.
(b) Without limiting the effect of the
				preceding sentence, the Plan Administrator will not accept a power-of-attorney
				until he or she finds that the power-of-attorney:
1. Is a properly executed and filed durable
				power-of-attorney pursuant to the law of the jurisdiction in which it was
				created, which will remain effective despite the later incapacitation or
				disability of the participant;
2.
				Indemnifies the Plan Administrator and every person that may rely on the
				durable power-of-attorney against any liability that may arise out of the Plan
				Administrator's acceptance of the power-of-attorney;
3. Contains the following provision or a
				substantially similar provision: "No person who may act in reliance upon the
				representations of my attorney-in-fact for the scope of authority granted to
				the attorney-in-fact shall incur any liability as to me or to my estate as a
				result of permitting the attorney-in-fact to exercise this authority, nor is
				any such person who deals with my attorney-in-fact responsible to determine or
				ensure the proper application of funds or property."; and
4. Grants specific authority for the
				attorney-in-fact to conduct transactions with the participant's retirement plan
				or employee benefit plan.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.17 - Disclosure of information

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Plan
				Administrator (and any other person acting for or at the request of the Plan
				Administrator) may disclose information concerning a participant, beneficiary,
				or alternate payee:
1. When requested by the
				participant's, beneficiary's, or alternate payee's agent who acts under a
				power-of-attorney accepted by the Plan Administrator;
2. When required by applicable law;
3. When required by a court order (including
				a subpoena);
4. Without a court
				order when reasonably requested by the Internal Revenue Service;
5. When necessary or appropriate for the Plan
				Administrator to obtain tax or legal advice;
6. When in the course of any domestic
				relations proceeding an attorney-at-law states in writing that he or she
				represents the participant's spouse (or former spouse) or child and that the
				information is reasonably related to such proceeding; or
7. When, in the course of the administration
				of a participant's, beneficiary's, or alternate payee's estate or succession,
				the personal representative (or an attorney-at-law who represents the personal
				representative) states in writing that he, she, or it needs the requested
				information to prepare a return of any estate tax, transfer tax, gift tax,
				inheritance tax, death tax, or similar tax, whether of the United States of
				America, any state, or any foreign nation.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.18 - Release

Current through Register Vol. 56, No. 14, July 15, 2024
Any payment or any agreement to make payments under a
				  payment option selected by the proper payee, shall, to the extent of the
				  payment(s) or agreement, be in full satisfaction of all claims. If a dispute
				  arises as to the proper payee of any payment(s), the Plan Administrator, in his
				  or her sole discretion, may withhold or cause to be withheld any payment(s)
				  until the dispute shall have been determined by a court of competent
				  jurisdiction or shall have been settled by all the parties concerned.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.19 - Severability

Current through Register Vol. 56, No. 14, July 15, 2024
If a court finds that any provision of the Program is
				  invalid, that holding shall not affect the remaining provisions of the Program,
				  or any Plan under the Program, which shall be construed and enforced as if the
				  invalid provision had not been included in the Program or Plan, unless such a
				  construction of the Program or Plan would be clearly contrary to the enabling
				  statute.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.20 - Statute of limitations

Current through Register Vol. 56, No. 14, July 15, 2024
As to any action at law or in equity under or with respect
				  to this Program, the action shall be governed by (or precluded by) the relevant
				  statute of limitations according to New Jersey law.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.21 - Uniformity

Current through Register Vol. 56, No. 14, July 15, 2024
To the extent required by the enabling statute or applicable
				  State law, provisions of the Program and any Plan under the Program shall be
				  construed and applied in a non-discriminatory manner.
New Jersey Administrative Code › Title 17 - TREASURY - GENERAL › Chapter 6 - DEFINED CONTRIBUTION RETIREMENT PROGRAM › Subchapter 16 - GENERAL PROVISIONS › Section 17:6-16.22 - Venue

Current through Register Vol. 56, No. 14, July 15, 2024
If any person bound by the Program under
				  17:6-16.1 5 or otherwise brings
				  any proceeding against the Plan Administrator or the Board, such person submits
				  to exclusive venue in the New Jersey courts sitting at Trenton, New Jersey.