18A:66-17 - Expenses paid by state; reimbursement - New Jersey Statutes

18A:66-17.  Expenses paid by state;  reimbursement    The expenses of administration of the retirement system shall be paid by the  State of New Jersey.  Each employing school district shall reimburse the State  for a proportionate share of the amount paid by the State for administrative  expense.  This proportion shall be computed as the number of members under the  jurisdiction of such employing school district bears to the total number of  members in the system.  The pro rata share of the cost of the administrative  expense shall be included with the certification by the board of trustees to  the Commissioner of Education, the State Treasurer and to each employing school  district.  The commissioner shall deduct the amount so certified from the  certification, to the State Treasurer and the Director of the Division of  Budget and Accounting, of State aid payable to such employing school district  under the provisions of c. 85, P.L.1954. Similar reimbursement shall be made  to the State by institutions and districts to which c. 85, P.L.1954 does not  pertain.

L.1967, c.271; amended by L.1971, c. 121, s. 7, eff. April 29, 1971.