43:16A-6.1 - Special disability retirement allowance - New Jersey Statutes

43:16A-6.1.  Special disability retirement allowance      a.   Upon the written application by a member in service, by one acting in behalf of the member or by the employer of the member, any member, under 55 years of age, who has had five or more years of creditable service and who has received a heart transplant may be retired, not less than one month next following the date of filing the application, on a special disability retirement allowance.

    b.   Upon retirement for special disability, a member shall receive a special disability retirement allowance which shall consist of:

    (1)  An annuity which shall be the actuarial equivalent of the member's aggregate contributions and

    (2)  A pension in the amount which, when added to the member's annuity, will provide a total retirement allowance of 50% of final compensation.

    c.   Upon the receipt of proper proofs of the death of a member who has retired on a special disability retirement allowance, there shall be paid to the member's beneficiary, an amount equal to 3 1/2 times the compensation upon which contributions by the member to the annuity savings fund were based in the last year of creditable service; provided, however, that if the death shall occur after the member shall have attained 55 years of age, the amount payable shall equal one-half of the compensation instead of 3 1/2 times the compensation.

    L.1989,c.103,s.1.