New Jersey § 43:15A-116 Rate of member contribution

New Jersey Statutes

§ 43:15A-116 — Rate of member contribution

New Jersey § 43:15A-116

Title 43PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION

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Bluebook

N.J. Stat. Ann. § 43:15A-116 (2026).

Text

Upon the transfer of membership to the Public Employees' Retirement System under the provisions of this act, the rate of contribution of such a member shall be determined by the actuary of the board of trustees in the same manner as set forth in section 25 of the act to which this act is a supplement, except that the number of years of credited service in the terminated pension fund shall be deducted from the member's age upon the date of termination of such other pension fund in order to fix the age upon which the rate of contribution is based. L.1956, c. 169, p. 664, s. 6.

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Upon the transfer of membership to the Public Employees' Retirement System under the provisions of this act, the rate of contribution of such a member shall be determined by the actuary of the board of trustees in the same manner as set forth in section 25 of the act to which this act is a supplement, except that the number of years of credited service in the terminated pension fund shall be deducted from the member's age upon the date of termination of such other pension fund in order to fix the age upon which the rate of contribution is based. L.1956, c. 169, p. 664, s. 6.