43:3C-5 - Agreement for direct deposit of monthly payment for retirant or beneficiary - New Jersey Statutes

43:3C-5.  Agreement for direct deposit of monthly payment for retirant or beneficiary
    Any law, rule or regulation to the contrary notwithstanding, the Division of  Pensions shall honor an agreement executed between a retirant or beneficiary of  any retirement system established pursuant to the laws of this State and a  depository institution for the direct deposit in the depository institution of  the monthly payment of the retirement allowance of the retirant or beneficiary;   provided, however, that the depository institution assumes the full  responsibility for the receipt and collection of the monthly payment, and,  provided further that the agreement is consummated pursuant to such rules and  regulations as shall be promulgated by the Division of Pensions.

     L.1981, c. 213, s. 2, eff. July 20, 1981.