43:7-7.1. Special retirement after 25 years of creditable service
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/nj/title-43/chapter-7/43-7-7-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Should a prison officer member resign after having established 25 years of creditable service, he may elect "special retirement," provided, that such election is communicated by such member to the retirement system by filing a written application, duly attested, stating at what time subsequent to the execution and filing thereof he desires to be retired. He shall receive a pension in the amount of 2% of his average final compensation, multiplied by the number of years of his creditable service up to 30 plus 1% of his average final compensation multiplied by the number of years of creditable service in excess of 30 years.
L.1973, c. 155, s. 3, eff. June 1, 1973.