New Jersey Statutes 43:23-6. Contracts with private sector entities
Terms Used In New Jersey Statutes 43:23-6
- Contract: A legal written agreement that becomes binding when signed.
- 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
(1) establish a protocol for reviewing and approving the qualifications of all financial services firms that meet the requirements to participate in the marketplace;
(2) design and operate an Internet website that includes information on how eligible employers can voluntarily participate in the marketplace;
(3) develop marketing materials about the marketplace that can be distributed electronically or posted on both public and private sector maintained websites;
(4) identify and promote existing federal and State tax credits and benefits for employers and employees that are related to encouraging retirement savings or participating in retirement plans; and
(5) promote the benefits of retirement savings and other information that promotes financial literacy.
b. The State Treasurer, or the Treasurer’s designee, shall direct any private sector entity contracted pursuant to subsection a. of this section to assure that licensed professionals who assist their clients that are eligible employers or their employees to enroll in a plan offered through the marketplace will receive routine, market-based commissions or other compensation for their services.
c. The State Treasurer, or the Treasurer’s designee, shall establish rules to ensure that there are objective criteria in the protocol established pursuant to subsection a.(1) of this section and that the protocol does not provide an unfair advantage to the private sector entity that establishes the protocol.
L.2015, c.298, s.6.