43:16A-63 - Transfer from or continuation in public employees' retirement system or county pension fund; membership of new employees - New Jersey Statutes

43:16A-63.  Transfer from or continuation in public employees' retirement system or county pension fund;  membership of new employees
    a.  An eligible officer who is a member of the Public Employees' Retirement  System or of a county pension fund created under P.L.1943, c. 160 (C.  43:10-18.1 et seq.), or P.L.1948, c. 310 (C. 43:10-18.50 et seq.) or article 2  of chapter 10 of Title 43 of the Revised Statutes (R.S. 43:10-19 et seq.),  hereinafter referred to as a  "county pension fund" shall be permitted to  transfer his membership in said fund to the Police and Firemen's Retirement  System of New Jersey by waiving all rights and benefits which would otherwise  be provided by the Public Employees' Retirement System or a county pension  fund.  Any such officer will likewise be permitted to continue his membership  in the Public Employees' Retirement System or a county pension fund by waiving  all rights and benefits which would otherwise be provided by the Police and  Firemen's Retirement System. Such waivers shall be accomplished by filing  forms satisfactory to the New Jersey Division of Pensions, which is responsible  for the administration of the Police and Firemen's Retirement System, within 90  days of the effective date of this 1975 amendatory and supplementary act.  In  the absence of the filing of a timely waiver by any eligible officer his  pension status shall remain unchanged and his membership shall not be  transferred to the Police and Firemen's Retirement System.

    b.  Each new officer who begins employment following the effective date of this 1975 amendatory and supplementary act, shall be required to enroll in the Police and Firemen's Retirement System of New Jersey as a condition of employment, provided he is otherwise eligible for membership by meeting the appointment, age, and health prescriptions required of all members.  As of the effective date of this 1975 amendatory and supplementary act, the eligibility of membership for such new officers in the Public Employees' Retirement System or a county pension fund named in paragraph a. above shall be terminated and the membership requirements of such other fund will be deemed satisfied by the enrollment of such employees in the Police and Firemen's Retirement System.

     L.1973, c. 156, s. 3, eff. June 1, 1973.  Amended by L.1975, c. 303, s. 1, eff. Feb. 2, 1976.