43:6A-14.1 - Election to terminate membership in other retirement system or waiver of joinder in judicial retirement system; credit for public service - New Jersey Statutes

43:6A-14.1.  Election to terminate membership in other retirement system or  waiver of joinder in judicial retirement system;  credit for public service
    a.  Any judge who is required to be a member of the retirement system and who is receiving a retirement allowance or pension from a retirement system established pursuant to any other law of this State may elect to terminate his retirement status in such other system by filing a proper form waiving all of his rights and privileges in such other system or he may elect to continue the receipt of his retirement allowance or pension by filing a proper form with the  Judicial Retirement System expressing his final and irrevocable intention not  to enroll as a member of the Judicial Retirement System.  Such waivers must be  filed within 90 days from the date of his appointment.

    b.  The judge who elects to enroll in the Judicial Retirement System after having received benefits from a retirement system established pursuant to another law of this State shall be entitled to receive the value of his contributions, without interest, to such other retirement system reduced by the  value of any benefits received from such retirement system.

    c.  The judge who elects to enroll in the Judicial Retirement System shall be eligible for all the benefits of the system and receive credit for all public service which would otherwise be credited to the account of any other member.

     L.1973, c. 304, s. 7, eff. Dec. 7, 1973.