New Jersey Statutes 43:23-24. Allocation of interest, investment earnings, and investment losses
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Terms Used In New Jersey Statutes 43:23-24
- 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
12. Interest, investment earnings, and investment losses shall be allocated to individual program accounts as established by the board pursuant to subsection d. of section 8 of this act. An individual’s retirement savings benefit under the program shall be an amount equal to the balance in the individual’s program account on the date the retirement savings benefit becomes payable. The State shall have no liability for the payment of any benefit to any participant in the program.
L.2019, c.56, s.12.