New Jersey Statutes 18A:64G-12. Employee retirement rights
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Terms Used In New Jersey Statutes 18A:64G-12
- 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.
Subject to the provisions of P.L.1969, c. 242 and except as otherwise provided by law, the university shall be deemed to be an employer for the purposes of P.L.1954, c. 84, the “Public Employees’ Retirement System Act” (C. 43:15A-1 et seq.) and shall also be deemed to be a “public agency or organization” within the meaning of section 71 of said act (C. 43:15A-71). Prior service credit shall not be extended to any officer or employee of the university who enrolls in the public employees’ retirement system if he is entitled to a pension or an annuity based on such prior service under any other pension act or program.
L.1970, c. 102, s. 12. Amended by L.1981, c. 325, s. 10, eff. Dec. 10, 1981.