New Jersey Statutes

§ 18A:66-2 — Definitions.

New Jersey·Title 18A EDUCATION

18A:66-2. As used in this article: a. "Accumulated deductions" means the sum of all the amounts, deducted from the compensation of a member or contributed by or in behalf of the member, including interest credited to January 1, 1956, standing to the credit of the member's individual account in the annuity savings fund. b. "Annuity" means payments for life derived from the accumulated deductions of a member as provided in this article. c. "Beneficiary" means any person receiving a retirement allowance or other benefit as provided in this article. d.

(1)"Compensation" means the contractual salary, for services as a teacher as defined in this article, which is in accordance with established salary policies of the member's employer for all employees in the same position but shall not include

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