53:5A-43 - Waiver of portion of pension, benefit or retirement allowance - New Jersey Statutes

53:5A-43.  Waiver of portion of pension, benefit or retirement allowance
    Any member or any beneficiary who has been or, in the future, may be retired, or receive a pension, benefit or retirement allowance, including an annuity, pursuant to the provisions of this act, may, by filing written request  with the retirement system, waive payment of a portion of the pension, benefit,  or retirement allowance, including annuity, 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    Upon the receipt of such waiver, and until the same is withdrawn, altered or  revoked by a subsequent written request, similarly filed, the retirement system  shall pay a reduced pension, benefit, retirement allowance or annuity 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 has been in effect.

     L.1965, c. 89, s. 43, eff. July 1, 1965.