New Jersey Statutes 43:16A-12.4. Requirements for receipt of death benefits; minimum amount of benefit payable
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Terms Used In New Jersey Statutes 43:16A-12.4
- 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
- month: means a calendar month, and the word "year" means a calendar year. See New Jersey Statutes 1:1-2
Any other provision of this act notwithstanding, (a) no beneficiary of a pensioner who enrolled as a member on or after July 1, 1971 and who retired for any reason other than disability shall be entitled to receive benefits pursuant to the death benefit coverages provided by section 5 of chapter 255 of the laws of 1944 and sections 16 and 17 of chapter 241 of the laws of 1964, if the pensioner had less than 10 years of service credit for retirement purposes at the time of retirement; and (b) no member or beneficiary shall be entitled to receive a monthly retirement allowance or other benefit payable pursuant to this chapter unless the amount of the allowance or benefit would be at least $25.00 per month.
L.1971, c. 175, s. 19, eff. June 1, 1971.