New Jersey Statutes 18A:66-1. Short title
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Terms Used In New Jersey Statutes 18A:66-1
- 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.
This article shall be known as the “Teachers’ Pension and Annuity Fund Law.”
L.1967, c.271; amended by L.1971, c. 121, s. 1, eff. April 29, 1971.