New Jersey Statutes
§ 43:23-28 — State has no duty, liability.
New Jersey·Title 43 PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
16.
a.The State shall have no duty or liability to any party for the payment of any retirement savings benefits accrued by any individual under the program. Any financial liability for the payment of retirement savings benefits in excess of funds available under the program shall be borne solely by the entities with whom the board contracts to provide insurance to protect the value of the program.
b.No State entity, board, commission, or agency, or any officer, employee, or member thereof is liable for any loss or deficiency resulting from particular investments selected under this act, except for any liability that arises out of a breach of fiduciary duty under section 7 of this act. L.2019, c.56, s.16.
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Nearby Sections
15
§ 43:23-1
Short title.§ 43:23-10
Report to Legislature.§ 43:23-11 Compliance.
§ 43:23-11 Compliance.§ 43:23-12
Regulations.§ 43:23-13
Short title.§ 43:23-16
Special fund outside of General Fund.§ 43:23-18
New Jersey Secure Choice Savings Board.§ 43:23-19
Duties of board, trustee, agents.§ 43:23-21
Annual statement of investment policy.