52:18A-110. Supplemental annuity collective trust; establishment; duties; divisions
120 words·~1 min read·
/nj/title-52/chapter-18a/52-18a-110A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
There is hereby established in the Department of the Treasury the Supplemental Annuity Collective Trust of New Jersey, which shall accept amounts received for supplemental annuities from the State administered retirement systems and combine the same for purposes of this act. The Supplemental Annuity Collective Trust shall also accept amounts paid by employers for the purchase of annuities on behalf of employees as hereinafter provided. The funds paid by employers to purchase annuities for their employees shall be accounted for separately from other funds received by the Supplemental Annuity Collective Trust.
The Supplemental Annuity Collective Trust hereby established shall consist of a Variable Division and a Fixed Division.
L.1963, c. 123, s. 4. Amended by L.1965, c. 90, s. 2.