43:6A-14.2. Credit for previous service in office, position or employment of state or governmental entity; application; purchase; employer's accrued liability obligation
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a. Following the effective date of this amendatory and supplementary act, any judge who shall be appointed to sit on any of the several courts who wishes to receive credit for previous service rendered in office, position or employment of this State or of a county, municipality, board of education, or public agency of this State, shall file an application therefor with the State House Commission and pay into the annuity savings fund the amount required by applying the factor, supplied by the actuary, as being applicable to his age at the time of purchase, to his salary at that time.
Such purchase may be made in regular installments, equal to at least one-half the full normal contribution to the retirement system over a maximum period to be determined by the State House Commission.
In the case of any person coming under the provisions of this section, full pension credit for the period of employment for which arrears are being paid shall be given upon the payment of at least one-half the total arrearage obligation and the completion of 1 year of membership and the making of such arrears payments, except that in the case of retirement pursuant to sections 9, 10 or 11 of P.L.1973, c. 140 or sections 5 or 6 of P.L.1973, c. 304 the total membership credit for such service shall be in direct proportion as the amount paid bears to the total amount of arrearage obligation.
b. The State shall pay to the retirement system the employer's accrued liability obligation on behalf of such person purchasing prior service credit.
L.1981, c. 470, s. 25, eff. Jan. 19, 1982.