New Jersey Statutes 43:15B-6. Unassignability of payments and rights
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Terms Used In New Jersey Statutes 43:15B-6
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
No participating employee or beneficiary thereof shall have the right to commute, sell, assign or otherwise transfer or convey the rights to receive any payments deriving from participation in the plan and such payments and rights are expressly declared to be and shall be unassignable.
L.1977, c. 381, s. 6, eff. Feb. 8, 1978.