43:16A-15.4. Accrued liability contribution of employer; payment
67 words·~1 min read·
/nj/title-43/chapter-16a/43-16a-15-4·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The accrued liability contribution of any employer adopting the retirement system after July 1, 1988 for the purpose of providing prior service credit, shall be payable by the employer to the pension accumulation fund over the period selected by the employer, provided that the period may not exceed 40 years following the initial valuation of such liability by the actuary of the retirement system.
L.1971,c.175,s.21; amended 1989,c.204,s.6.