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| Home > Statutes > USA New Jersey |
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USA Statutes : new_jersey
Title : TITLE 43 PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
Chapter : 43:16A-48.
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43:16A-48. Procedure to effect transfer of membership; accumulated deductions; deductions thereafter
On January first following the receipt of said notification and certification, the board of trustees of the State Employees@ Retirement System shall relinquish jurisdiction over each of the persons so certified and shall cause to be remitted to the board of trustees of the Police and Firemen@s Retirement System of New Jersey all accumulated deductions standing to the credit of each of such persons as a member of the former system, together with the pro rata part of the contingent reserve fund applicable to such person@s account, and the board of trustees of the Police and Firemen@s Retirement System of New Jersey shall assume jurisdiction over such person, and shall enter the respective sums so remitted to it to the credit of such person in the annuity savings fund and to the credit of the pension accumulation fund of the Police and Firemen@s Retirement System of New Jersey and thereafter the employees thereby affected shall be deemed to be members of the Police and Firemen@s Retirement System of New Jersey and deductions from their salaries and contributions on their behalf shall thereafter be made as required by the act creating such system for members thereof having equivalent creditable service and aggregate contributions.
L.1949, c. 273, p. 845, s. 3.
43:16A-48.1. Officers of county police department, county park police department, or county park commission; membership
Eligibility for membership in the Police and Firemen@s Retirement System of New Jersey shall be extended to all active, permanent and full-time, uniformed officers of any county police department, county park police department, or county park commission who are otherwise eligible in accordance with the provisions of this act.
L.1973, c. 92, s. 1, eff. April 24, 1973.
43:16A-48.2. Transfer or retention of membership; waiver of rights and benefits; filing of forms; new officers; officers with pensions under other plans
a. An eligible officer who is a member of a pension fund established by a county or a county park commission or of the Public Employees@ Retirement System shall be permitted to transfer his membership in said fund to the Police and Firemen@s Retirement System of New Jersey by waiving all rights and benefits which would otherwise be provided by the county or county park commission pension fund or by the Public Employees@ Retirement System. Any such officer will likewise be permitted to continue his membership in the county or county park commission pension fund or in the Public Employees@ Retirement System by waiving all rights and benefits which would otherwise be provided by the Police and Firemen@s Retirement System. Such waivers shall be accomplished by filing forms satisfactory to the New Jersey State Division of Pensions, which is responsible for the administration of the Police and Firemen@s Retirement System, within 90 days of the effective date of this act. In the absence of the filing of a timely waiver by any eligible officer his pension status shall remain unchanged and his membership shall not be transferred to the Police and Firemen@s Retirement System.
b. Each new officer who begins employment following the effective date of this act and who is otherwise eligible, shall be required to enroll in the Police and Firemen@s Retirement System of New Jersey as a condition of employment, provided he is otherwise eligible for membership by meeting the appointment, age, and health prescriptions required of all members. As of the effective date of this act, the eligibility of membership for such new officers in the county or county park commission pension fund or in the Public Employees@ Retirement System shall be terminated and the membership requirements of such other funds will be deemed satisfied by the enrollment of such employees in the Police and Firemen@s Retirement System.
c. All officers who, prior to the effective date of this act, were not required to become and who are not members of county or county park commission pension funds or the Public Employees@ Retirement System, and who anticipate the receipt of a pension from the county under the provisions of chapter 4 of Title 43 of the Revised Statutes or the ~General Noncontributory Pension Act~ P.L.1955, c. 263, (C. 43:8B-1 et seq.), shall continue their eligibility for such pension to be paid by the county and shall not be permitted to enroll in the Police and Firemen@s Retirement System of New Jersey.
L.1973, c. 92, s. 2, eff. April 24, 1973.
43:16A-48.3. Remission of prior credits to police and firemen@s retirement system by former funds; credits to employee and employer
Within 120 days following the effective date of this act the county or county park commission pension funds and the Public Employees@ Retirement System shall remit to the Police and Firemen@s Retirement System of New Jersey all accumulated deductions standing to the credit of each transferred employee as members of such funds, and within 180 days following the effective date of this act remit the pro-rata part of the reserve fund constituting the employer@s obligations under the former system applicable to such employee@s account, and the Police and Firemen@s Retirement System shall then enter the respective sums so remitted to it to the credit of such employee in the Annuity Savings Fund and to the credit of the employer in the Pension Accumulation Fund of the Police and Firemen@s Retirement System of New Jersey. Interest at the rate of 6% per annum shall be added to the employer@s obligations if such moneys are not remitted within the periods prescribed by this section.
L.1973, c. 92, s. 3, eff. April 24, 1973.
43:16A-48.4. Transferred employees; deduction; contributions; rate; rights and benefits; credits
The transferred employees thereby affected shall be members of the Police and Firemen@s Retirement System and deductions from their salaries and contributions on their behalf shall thereafter be made as required by the act creating such system for members thereof. Such transferred employees shall have the same contribution obligation and enjoy the same rights and benefits of all other members of the system except as provided by this act. Any credit for public service which had been established in the county or county park commission pension funds or in the Public Employees@ Retirement System by the transferred employee shall be established in the Police and Firemen@s Retirement System.
Upon the transfer of membership to the Police and Firemen@s Retirement System under the provisions of this act, the rate of contribution of such member shall be determined by the rates payable by other members, except that the number of years of credited service in the former pension fund shall be deducted from the member@s current age in order to fix the age upon which the rate of contribution is based.
L.1973, c. 92, s. 4, eff. April 24, 1973.
43:16A-48.5. Transferred employees; group life insurance benefits; qualifications
a. Any person becoming a member of the Police and Firemen@s Retirement System pursuant to the provisions of this act shall not be allowed any of the group life insurance benefits if on the date he files an application for enrollment he is 55 or more years of age, unless he furnishes satisfactory evidence of insurability and on the effective date of membership is actively at work and performing all his regular duties at his customary place of employment. The effective date of coverage for such benefits shall be the first day of the month which immediately follows the date when such evidence is determined to be satisfactory.
b. Such evidence of insurability will not be required of any person becoming a member upon transfer from the Public Employees@ Retirement System, if the transferring employee was covered by such benefits in the latter system at the time of the transfer. If such transferring employee was not covered by such benefits at the time of the transfer, he may be allowed the benefits under the group life insurance policy or policies subject to the provisions of subsection a. of this section; provided, however, that any such employee must furnish satisfactory evidence of insurability under the provisions of subsection a. of this section, if he had been unable or failed to give such evidence as a member of the Public Employees@ Retirement System.
L.1973, c. 92, s. 5, eff. April 24, 1973.
43:16A-48.6. Liability of employers; calculation; certification; contributions
The actuary of the Police and Firemen@s Retirement System shall calculate the liability of each employer of employees becoming members of the system under this act in the same manner as is specified in the case of other employees where the Police and Firemen@s Retirement System is adopted, taking into account the value of moneys remitted by the pension funds. In the event that the value of such money so remitted is less than the total which is required by the Police and Firemen@s Retirement System to provide the transferred member with credit for his public service, the liability of the employer shall include an amount equal to the difference between these two values. Upon certification by the actuary of the Police and Firemen@s Retirement System each employer shall make such contributions as are required in order to meet his financial obligations in the same manner and within the same period of time as is specified in the case of other employers where the Police and Firemen@s Retirement System of New Jersey is adopted.
L.1973, c. 92, s. 6, eff. April 24, 1973.
43:16A-48.7. Transmittal of information by fiscal officers of each employer
The chief fiscal officer of each employer shall transmit to the retirement system such information as the system shall require in order for the New Jersey State Division of Pensions to comply with the provisions of this act.
L.1973, c. 92, s. 7, eff. April 24, 1973.
43:16A-48.8. Police officers in municipalities establishing police departments; transfer of membership and contributions in retirement systems
Notwithstanding any other provision of law regarding the Police and Firemen@s Retirement System or the Public Employees@ Retirement System, when any police officer member of the Police and Firemen@s Retirement System transfers his employment to a municipality which has within 1 year of the transfer first established a police department and has not at the time of the transfer adopted the Police and Firemen@s Retirement System, so that the police officer is thereby required to transfer to membership in the Public Employees@ Retirement System, and the municipality thereafter adopts the Police and Firemen@s Retirement System and the police officer elects to transfer back to membership in that system, the full amount of the police officer@s contributions and the full amount of the contributions made by the police officer@s former employers shall be transferred by the Public Employees@ Retirement System to the Police and Firemen@s Retirement System.
L.1980, c. 136, s. 1.
43:16A-48.9. Police officers in municipalities establishing police departments; contributions, credits, rights and benefits
When a police officer transfers back to the Police and Firemen@s Retirement System under the circumstances set forth in section 1 of this act, the police officer and the employing municipality shall be required to make such contributions, on the basis of rates established by the actuary of the Police and Firemen@s Retirement System, which, when added to the funds transferred pursuant to section 1 of this act and any prior contributions made by or on behalf of the transferring police officer retained by the Police and Firemen@s Retirement System, will obtain for the police officer the same credits, rights and benefits of membership in the Police and Firemen@s Retirement System as would have accrued had the police officer continued to be a member of that system during his entire employment as a police officer.
L.1980, c. 136, s. 2.
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