52:18A-110 - Supplemental annuity collective trust; establishment; duties; divisions - New Jersey Statutes

52:18A-110.  Supplemental annuity collective trust;  establishment; duties;   divisions
    There is hereby established in the Department of the Treasury the Supplemental Annuity Collective Trust of New Jersey, which shall accept amounts  received for supplemental annuities from the State administered retirement  systems and combine the same for purposes of this act.  The Supplemental  Annuity Collective Trust shall also accept amounts paid by employers for the  purchase of annuities on behalf of employees as hereinafter provided.  The  funds paid by employers to purchase annuities for their employees shall be  accounted for separately from other funds received by the Supplemental Annuity  Collective Trust.  The Supplemental Annuity Collective Trust hereby established  shall consist of a Variable Division and a Fixed Division.

     L.1963, c. 123, s. 4.  Amended by L.1965, c. 90, s. 2.