New Jersey Statutes 43:7-10.1. Death before retirement; payment of member’s contributions
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Terms Used In New Jersey Statutes 43:7-10.1
- 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
- Executor: A male person named in a will to carry out the decedent
In the event of death before retirement and no benefits are payable under any provision of this act or the act to which this act is amendatory and supplementary, the member’s contributions will be paid to the member’s beneficiary, if living, as the member shall have nominated by written designation duly executed and filed with the pension fund, otherwise to the executor or administrator of the member’s estate.
In the event of death before retirement and benefits are payable to eligible beneficiaries under other provisions of this act or the act to which this act is amendatory and supplementary, in no case shall the aggregate of such benefits be less than that provided under this section.
L.1969, c. 56, s. 6, eff. May 21, 1969.