New Jersey Statutes

§ 53:5A-3 — Definitions relative to the State Police Retirement System.

New Jersey·Title 53 STATE POLICE
3.As used in this act: a. "Aggregate contributions" means the sum of all the amounts, deducted from the salary of a member or contributed by him or on his behalf, standing to the credit of his individual account in the Annuity Savings Fund. Interest credited on contributions to the former "State Police Retirement and Benevolent Fund" shall be included in a member's aggregate contributions.
b."Annuity" means payments for life derived from the aggregate contributions of a member.
c."Annuity reserve" means the present value of all payments to be made on account of any annuity or benefit in lieu of an annuity, computed upon the basis of such mortality tables recommended by the actuary as the board of trustees adopts and regular interest.
d."Beneficiary" means any person entitled to receive

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

New Jersey § 53:5A-3 (Definitions relative to the State Police Retirement System.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Nearby Sections

15
View on official source ↗