17:12B-57. Submission of pension plan for approval of commissioner
71 words·~1 min read·
/nj/title-17/chapter-12b/17-12b-57·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every pension plan adopted or altered for a State association shall before it is placed in operation, be submitted to the commissioner for his approval. The commissioner shall approve such plan or alterations thereof unless he shall find:
(a)it does not conform to law, or
(b)its adoption or alteration would be hazardous to the State association, or
(c)its provisions are unfair or inequitable.
L.1963, c. 144, s. 57.