18A:17-12.1 - Secretary; retirement on pension; amount - New Jersey Statutes

18A:17-12.1.  Secretary;  retirement on pension;  amount
    The board of education of any school district may by resolution provide for  the retirement on pension of a secretary of the board of education who has  served in such office for 30 or more years on a part-time basis and 10 or more  years on a full-time basis, who is not less than 65 years of age and who, by  reason of age at the time of his appointment as a full-time secretary of the  board, was ineligible for membership in a contributory pension system.

    Any pension authorized pursuant to this act may not exceed 50% of the employee's annual final average salary, inclusive of any benefits to which the employee may be entitled under the General Non-Contributory Pension Act, or any  other pension payable from his employer and exclusive of any benefits to which  the employee might be entitled under Federal Old Age and Survivor's Insurance.

     L.1968, c. 148, s. 1, eff. July 12, 1968.