New Jersey Statutes 43:2-6. Credit
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Terms Used In New Jersey Statutes 43:2-6
- 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.
Such applicant shall be entitled as a member of such retirement system or pension fund to such credit by way of pension and annuity as is provided by law in such retirement system or pension fund with prior service credit to which he was originally entitled in the teachers’ pension and annuity fund.
L.1949, c. 149, p. 532, s. 3.