18A:66-78 - Additional death benefits; contributions; adjustment - New Jersey Statutes

18A:66-78.  Additional death benefits;  contributions;  adjustment
    In the event that the board of trustees of the teachers' pension and annuity  fund shall determine to purchase group insurance coverage for the additional  death benefit coverage, each member selecting the additional death benefit  coverage shall agree to the deduction of a percentage of his compensation  determined from a schedule of contributions to be established by the board of  trustees of the teachers' pension and annuity fund.  The schedule of  contributions shall be established by said board of trustees on a basis it  deems appropriate and shall be subject to adjustment by said board of trustees  from time to time for the purpose of maintaining the contributory group  insurance premium fund at a level sufficient to meet the obligations of the  fund for the cost of the insurance.
 
L.1967, c.271.