17:9A-27.16 - Eligibility for retirement; permissive provisions - New Jersey Statutes

17:9A-27.16.  Eligibility for retirement;  permissive provisions
    A.  In determining the eligibility for retirement of an employee, a plan may  provide that (a) the period during which such employee was employed by a predecessor bank, and by a bank, savings bank or national bank toward which such predecessor bank stands in the relation of a successor bank; and (b) the period during which such employee was employed by a subsidiary, shall be included in the period of such employee's employment in such bank.

    B.  In determining the eligibility for retirement of an employee, a plan may  provide that a period during which such employee was employed by an employer  other than the bank, a predecessor bank, or a subsidiary, shall be included in  the period of such employee's employment in such bank.

     L.1953, c. 124, p. 1316, s. 16.  Amended by L.1968, c. 37, s. 3, eff. May 9, 1968.