New Jersey Statutes 43:6A-39. Waiver of payment of portion of payment of pension, retirement allowance or benefit
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 43:6A-39
- 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
Any member or any beneficiary who has been or, in the future, may be retired, or receive a pension, retirement allowance or benefit pursuant to the provisions of this act, may, by filing written request with the retirement system, waive payment of a portion of the pension, retirement allowance or benefit to which he may be entitled.
Upon the receipt of such waiver, and until the same is withdrawn, altered or revoked by a subsequent written request, similarly filed, the retirement system shall pay a reduced pension, retirement allowance or benefit, as shall be requested in such waiver. The member or the beneficiary shall not be entitled to a refund, or credit, for such moneys as shall have been waived during the period such waiver had been in effect.
L.1973, c. 140, s. 39, eff. May 22, 1973. Amended by L.1981, c. 470, s. 19, eff. Jan. 19, 1982.