The actuary of the Police and Firemen's Retirement System shall calculate the liability of the employer of employees becoming members of the system under this act in the same manner as is specified in the case of other employers where the Police and Firemen's Retirement System is adopted, taking into account the value of moneys remitted by the pension fund. In the event that the value of such money so remitted is less than the total which is required by the Police and Firemen's Retirement System to provide the transferred member with credit for his public service, the liability of the employer shall include an amount equal to the difference between these two values. Upon certification by the actuary of the Police and Firemen's Retirement System the employer shall make such contributions as are required in order to meet the financial obligations in the same manner and within the same period of time as is specified in the case of other employers where the Police and Firemen's Retirement System of New Jersey is adopted.
L.1973, c. 156, s. 8, eff. June 1, 1973.
2 pages
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May 22, 2017
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2 pages
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4 pages
UNN-L-002721-17 10/05/2020 5:19:03 PM Pg 1 of 4 Trans ID: LCV20201761725 Garrubbo & Capece, P.C. ATTORNEYS AT LAW. 2204 MORRIS AVENUE SUITE 304 JOSEPH L. GARRUBBO*+ UNION, NEW JERSEY 07083 FRANK G. CAPECE LAURIE M. ESTEVES eae LISA DELLA …
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Aug 01, 2019
Closed
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Section 43:16A-66: Group life insurance benefits for employee over 55
