43:13-37.8 - Retirement on half pay; dependents after death - New Jersey Statutes

43:13-37.8.  Retirement on half pay;  dependents after death
    Subject to the limitations hereinafter provided, any town employee who shall  have served or who shall hereafter have served in the employ of such town  continuously or in the aggregate for a period of twenty years, and who shall  have attained the age of sixty years, shall, upon his application, be retired  on half pay.  In the event that such town employee shall have retired and  pensioned under the provisions of this act and shall have continued to pay into  said pension fund or have deducted for the benefits of such pension fund the  full amount of his percentage based on the amount of his pension after his  retirement and until his death, then, in such event and subject to the  limitation hereinafter provided, an amount equal to one-half of the salary or  compensation received by such town employees at the time of his retirement  shall be paid each year to the dependent widow, dependent children under the  age of sixteen years or dependent parent or parents, as the case may be.

     L.1943, c. 189, p. 526, s. 8.