New Jersey § 40A:9-17.2 Transmittal, crediting of funds to purchase annuity for employees.

New Jersey Statutes

§ 40A:9-17.2 — Transmittal, crediting of funds to purchase annuity for employees.

New Jersey § 40A:9-17.2

Title 40AMUNICIPALITIES AND COUNTIES

This text of New Jersey § 40A:9-17.2 (Transmittal, crediting of funds to purchase annuity for employees.) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 40A:9-17.2 (2026).

Text

5.Amounts payable by a unit of local government which has entered into an agreement with any of its employees under which the employee agrees to take a reduction in salary in return for the public entity's agreement to use a corresponding amount to purchase for the employee an annuity meeting the requirements of section 403(b) of the federal Internal Revenue Code for a pay period shall be transmitted and credited not later than the fifth business day after the date on which the employee is paid for that pay period. L.1999,c.247,s.5.

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5. Amounts payable by a unit of local government which has entered into an agreement with any of its employees under which the employee agrees to take a reduction in salary in return for the public entity's agreement to use a corresponding amount to purchase for the employee an annuity meeting the requirements of section 403(b) of the federal Internal Revenue Code for a pay period shall be transmitted and credited not later than the fifth business day after the date on which the employee is paid for that pay period. L.1999,c.247,s.5.