New Jersey Statutes 18A:66-58.1. Annuity values; determination without reference to sex
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Terms Used In New Jersey Statutes 18A:66-58.1
- 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.
Annuity values, including actuarial equivalents under optional selections, for all members of the Teachers’ Pension and Annuity Fund shall be determined without reference to sex; provided, however, that this amendatory and supplementary act shall not limit the actuary from using sex as a factor in the actuarial valuation required pursuant to N.J.S. 18A:66-68.
L.1979, c. 106, s. 9, eff. Jan. 1, 1980.