43:15A-92 - Additional death benefits; contributions; adjustment - New Jersey Statutes

43:15A-92.  Additional death benefits;  contributions;  adjustment    In the event that the Board of Trustees of the Public Employees' Retirement  System 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 Public Employees' Retirement System.  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.1955, c. 214, p. 831, s. 5.  Amended by L.1960, c. 79, p. 555, s. 5.