43:3C-19 Member fully vested in accumulated contributions.
109 words·~1 min read·
/nj/title-43/chapter-3c/43-3c-19A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
61. a. A member shall be fully vested in his or her accumulated contributions at all times.
b. A member shall be fully vested in his or her service retirement benefit upon the attainment of normal retirement age under the retirement system and the completion of any required years of service. Normal retirement age means the age established by regulation consistent with statute.
c. In conformity with section 401(a)(8) of the federal Internal Revenue Code (26 U.S.C. s.401(a)(8)), any forfeitures of benefits by members or former members of the plan shall not be applied to increase the benefits any member would otherwise receive under the plan.
L.2011, c.78, s.61.