17:9A-27.10. Disposition of contributions of employee
119 words·~1 min read·
/nj/title-17/chapter-9a/17-9a-27-10·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Every plan shall provide that, upon termination of employment of an employee for any cause other than retirement pursuant to such plan, or upon the death of such employee prior to such retirement, all contributions made by such employee pursuant to such plan shall be repaid to such employee, or to a beneficiary or beneficiaries designated by him. A plan may provide that such employee shall have the option of receiving the return of his contributions in cash, or in the form of an annuity payable in such manner and subject to such conditions as may be prescribed by such plan, and such provision shall constitute a compliance with this section.
L. 1953, c. 124, p. 1315, s. 10.