17:12B-55. Death benefits
83 words·~1 min read·
/nj/title-17/chapter-12b/17-12b-55·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Where a plan or plans provide for death benefits, said death benefits shall not exceed an amount equal to 100 times the monthly pension benefit provided under the plan or plans, or the cash surrender value of any insurance or annuity contracts as provided for under the plan or plans, whichever is greater. The provision for death benefits or for a period certain shall not serve to reduce the maximum pension amount as set forth in this act.
L.1963, c. 144, s. 55.