New Jersey Statutes 43:15A-22. Funds
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Terms Used In New Jersey Statutes 43:15A-22
- 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.
22. Under this act there shall be the contingent reserve fund, annuity savings fund, retirement reserve fund, benefit enhancement fund and the special reserve fund.
L.1954,c.84,s.22; amended 1963, c.51, s.1; 2001, c.133, s.8.