43:13-22.33 - Transfer of membership from existing funds - New Jersey Statutes

43:13-22.33.  Transfer of membership from existing funds    Upon the adoption of this act, the transfer of membership from any of the existing funds organized under the provisions of article 2, chapter 13, Title 43 of the Revised Statutes;  and of chapter 18, Title 43 of the Revised Statutes;  and of chapter 19, Title 43 of the Revised Statutes to the retirement system created hereby shall result in a contractual relationship with the city, and or the benefits provided for under the aforesaid statutes shall not be diminished or impaired;  provided, however, that nothing in this section contained shall affect the rates of contributions and the provisions governing refund of contribution hereinbefore set forth for members and pensioners of the retirement system created hereby, including those members of the aforesaid pension funds who are transferred to the retirement system created hereby.

     L.1954, c. 218, p. 829, s. 31.