New Jersey Statutes 52:18A-88.1. Investment, reinvestment of moneys on behalf of specified agencies
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Terms Used In New Jersey Statutes 52:18A-88.1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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. The Director of the Division of Investment, in addition to other investments, presently or from time to time hereafter authorized by law, shall have authority to invest and reinvest the moneys in, and to acquire for or on behalf of the funds of the following enumerated agencies:
The Consolidated Police and Firemen’s Pension Fund;
The Police and Firemen’s Retirement System of New Jersey;
The Prison Officers’ Pension Fund;
The Public Employees’ Retirement System of New Jersey;
The State Police Retirement System;
The Teachers’ Pension and Annuity Fund;
The Judicial Retirement System of New Jersey;
The Trustees for the Support of Public Schools;
and all other funds in the custody of the State Treasurer, unless otherwise provided by law;
such investments which shall be authorized or approved for investment by regulation of the State Investment Council, or in the case of the Police and Firemen’s Retirement System of New Jersey, by regulation of the Board of Trustees of the Police and Firemen’s Retirement System of New Jersey, except that notwithstanding this provision, Common Pension Fund L and the assets held by Common Pension Fund L as of the effective date of this Act and thereafter, including the interest of the Police and Firemen’s Retirement System of New Jersey therein shall remain within the Division of Investment. The Director of the Division of Investment and the State Investment Council shall retain all functions, powers, and duties relating to Common Pension Fund L assigned to the Division of Investment, the Director of the Division of Investment, and the State Investment Council, by P.L. 2017, c. 98 (C. 5:9-22.5 et seq.).
The Consolidated Police and Firemen’s Pension Fund;
The Police and Firemen’s Retirement System of New Jersey;
The Prison Officers’ Pension Fund;
The Public Employees’ Retirement System of New Jersey;
The State Police Retirement System;
The Teachers’ Pension and Annuity Fund;
The Judicial Retirement System of New Jersey;
The Trustees for the Support of Public Schools;
and all other funds in the custody of the State Treasurer, unless otherwise provided by law;
such investments which shall be authorized or approved for investment by regulation of the State Investment Council, or in the case of the Police and Firemen’s Retirement System of New Jersey, by regulation of the Board of Trustees of the Police and Firemen’s Retirement System of New Jersey, except that notwithstanding this provision, Common Pension Fund L and the assets held by Common Pension Fund L as of the effective date of this Act and thereafter, including the interest of the Police and Firemen’s Retirement System of New Jersey therein shall remain within the Division of Investment. The Director of the Division of Investment and the State Investment Council shall retain all functions, powers, and duties relating to Common Pension Fund L assigned to the Division of Investment, the Director of the Division of Investment, and the State Investment Council, by P.L. 2017, c. 98 (C. 5:9-22.5 et seq.).
L.1959, c.17, s.1; amended 1970, c.57, s.18; 1972, c.176; 1997, c.26, s.25; 2013, c.253, s.39; 2018, c.55, s.36.