New Jersey Statutes 43:8A-8.1. Purchase of annuity credits for periods prior to membership in fund
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Terms Used In New Jersey Statutes 43:8A-8.1
- 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.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
Any present entrant member of the alcoholic beverage control law enforcement officers pension fund shall be permitted, under such rules and regulations as the board of trustees may adopt, to purchase such additional annuity credits as he may desire to cover any period or portion thereof, prior to his becoming a member of such pension fund, not to exceed the period of time during which such member was an employee of the Division of Alcoholic Beverage Control of the Department of Law and Public Safety of the State of New Jersey, and its predecessor, the Department of Alcoholic Beverage Control of the State of New Jersey.
L.1955, c. 142, p. 635, s. 1.