43:6A-39 - Waiver of payment of portion of payment of pension, retirement allowance or benefit - New Jersey Statutes

43:6A-39.  Waiver of payment of portion of payment of pension, retirement allowance or benefit
    Any member or any beneficiary who has been or, in the future, may be retired, or receive a pension, retirement allowance or benefit pursuant to the provisions of this act, may, by filing written request with the retirement system, waive payment of a portion of the pension, retirement allowance or benefit to which he may be entitled.

    Upon the receipt of such waiver, and until the same is withdrawn, altered or  revoked by a subsequent written request, similarly filed, the retirement system  shall pay a reduced pension, retirement allowance or benefit, as shall be  requested in such waiver.  The member or the beneficiary shall not be entitled  to a refund, or credit, for such moneys as shall have been waived during the  period such waiver had been in effect.

     L.1973, c. 140, s. 39, eff. May 22, 1973.  Amended by L.1981, c. 470, s. 19, eff. Jan. 19, 1982.