New Jersey Statutes 52:18-11.1. Individual retirement annuities for state employees and their spouses; contract with insurance company
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Terms Used In New Jersey Statutes 52:18-11.1
- 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
The State Treasurer may enter into a contract with an insurance company authorized to do business in this State to provide to its employees, on a group or individual basis, individual retirement annuities, as defined by section 408(b) of the Federal Internal Revenue Code of 1954 as amended (26 U.S.C. s. 408(b)). The contract shall provide for coverage under these annuities of any employee of the State and may provide for the establishment of annuities on behalf of the spouse of the employee.
L.1983, c. 445, s. 5, eff. Jan. 9, 1984.