New Jersey Statutes 43:1-1. Age as bar to eligibility for pension fund; exceptions
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Terms Used In New Jersey Statutes 43:1-1
- 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.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- population: when used in any statute, shall be taken to mean the population as shown by the latest Federal census effective within this State, and shall be construed as synonymous with "inhabitants. See New Jersey Statutes 1:1-2
- 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 person of the age of 40 years or over, who accepts any employment in the State or any county or municipality thereof shall not be eligible to join any pension fund maintained by the State or any county or municipality thereof, except that such person may join the pension fund established pursuant to the “Public Employees’ Retirement-Social Security Integration Act,” approved June 28, 1954 (P.L.1954, c. 84), the pension fund established pursuant to “An act to provide for the creation, setting apart, maintenance and administration of a city employees’ retirement system in cities of the first class having, at the time of the enactment of this act, a population in excess of 400,000 inhabitants; and merging and superseding the provisions of pension funds established pursuant to article 2 of chapter 13, chapters 18 and 19, of Title 43 of the Revised Statutes, in said cities,” approved November 22, 1954 (P.L.1954, c. 218), the pension fund created pursuant to “An act to provide for the creation, setting apart, maintenance and administration of a county employees’ pension fund in counties having a population exceeding 800,000 inhabitants,” approved April 8, 1943 (P.L.1943, c. 160) or any pension fund established pursuant to article 1 of chapter 10 of Title 43 of the Revised Statutes.
This section shall not apply to “teachers” as defined in section 18:13-25 of the Title Education, nor to any person eligible to membership in the Teachers’ Pension and Annuity Fund.
Amended by L.1955, c. 2, p. 25, s. 1.