New Jersey Statutes 43:16-20. Reduced payments
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 43:16-20
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
2. Upon the receipt of such a waiver, and until the same is withdrawn, altered, or revoked by a subsequent written request, similarly filed, the Division of Pensions and Benefits shall pay a reduced pension, benefit, retirement allowance, or annuity, as shall be requested in such waiver.
L.1955, c.137, s.2; amended 2013, c.253, s.33.