New Jersey Statutes

§ 43:10-1 — Definitions; persons under forty-five eligible

New Jersey·Title 43 PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
"Be retired on half pay" means retired on a pension equal to one-half of the average annual salary during any 3 fiscal years, of the employee's membership, for which contributions were made, which years shall be selected in such manner as to provide for the largest possible benefit to the retirant, or surviving spouse or children, as the case may be; provided, however, that nothing in this amendatory act shall serve to reduce any employee's pension below the amount to which he would have been entitled had he been eligible to apply for his pension prior to the effective date of this amendatory act. "Salary" or "average annual compensation," when used for the purpose of computing benefits under this act, means the average annual salary for which contributions are made during any 3 fiscal yea

Free access — add to your briefcase to read the full text and ask questions with AI

New Jersey § 43:10-1 (Definitions; persons under forty-five eligible) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Nearby Sections

15
View on official source ↗