New Jersey Statutes 43:3C-19. Member fully vested in accumulated contributions
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 43:3C-19
- Statute: A law passed by a legislature.
61. a. A member shall be fully vested in his or her accumulated contributions at all times.
b. A member shall be fully vested in his or her service retirement benefit upon the attainment of normal retirement age under the retirement system and the completion of any required years of service. Normal retirement age means the age established by regulation consistent with statute.
c. In conformity with section 401(a)(8) of the federal Internal Revenue Code (26 U.S.C. § 401(a)(8)), any forfeitures of benefits by members or former members of the plan shall not be applied to increase the benefits any member would otherwise receive under the plan.
L.2011, c.78, s.61.