43:5-4 - Amount of pension - New Jersey Statutes

43:5-4.  Amount of pension
    An employee so retiring shall, during his disability and for his natural life, be paid an annual salary or compensation, commencing with the date of the  filing of his resignation, at the rate of one-half of the average annual salary  and wage he received for the two years prior to the time of the filing.   Compensation to the extent of one-half of any fee for enrollment services  which the person to be pensioned might be capable of earning in the maximum at  retirement for such salary, wage or one-half of compensation which beneficiary  shall have been in receipt of aforesaid shall be paid by the state treasurer in  the same manner and at the same time as other salaries or compensation are paid  to those in the state's employ, out of the appropriation account for salaries  and wages or enrollment fees of the department or branch of service in which  the person shall have been employed. Provision shall be made in such account  for the purpose to the extent authorized by this chapter.