§ 43:15B-1 Deferred compensation plan, length of service award program
§ 43:15B-2 Amounts; determination by agreement
§ 43:15B-3 Provisions of plan
§ 43:15B-4 Plan to be in addition to obligation under any other retirement system or benefit plan
§ 43:15B-5 Investment of deferred, deducted moneys; assets held in trust
§ 43:15B-6 Unassignability of payments and rights
§ 43:15B-7 Exclusion of deferred and deducted amount from computation of federal withholding taxes
§ 43:15B-8 Transfer of credits from employment by different employer
§ 43:15B-9 Transfer of credit from plan to similar plan of participant’s new employer
§ 43:15B-10 Consistency of plan with requirements of federal Internal Revenue Code
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Terms Used In New Jersey Statutes > Title 43 > Chapter 15B - Deferred Compensation Plan, Length of Service Award Program

  • 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.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Fiduciary: A trustee, executor, or administrator.
  • 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.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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