New Jersey Statutes 43:13-22.54c. Liability for payment of increase by employer
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In New Jersey Statutes 43:13-22.54c
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
The employer shall bear the cost of the increase in the pensions payable to retirants pursuant to this act. The employer shall appropriate the amount necessary to fund this act in the current fiscal year and in each following fiscal year.
The pension commission shall certify to the employer the number of retirants eligible to receive increases pursuant to this act and the amount necessary to make the payments.
L.1984, c. 117, s. 2, eff. Aug. 8, 1984.