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New Jersey Statutes, Title: 43, PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
Chapter 13: Filling vacancies in trustees of certain trust funds; resignation of trustees
Section: 43:13-22.49e: Retirement after 60; benefits
a. A member who shall have attained 60 years, upon retirement from service as an elected official of the city, shall receive a pension equal to 3\% of final compensation as an elected official of the city for each year of creditable service as such an official. In no event shall the pension payable under this section exceed two-thirds of final compensation.
b. The death benefit provided in section 18 of P.L.1954, c. 218 (C. 43:13-22.20) shall apply in the case of any member retiring under the provisions of this section.
c. No member shall be eligible to retire pursuant to this section until he has terminated all public service covered by the retirement system.
L.1981, c. 565, s. 5, eff. Jan. 12, 1982.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 43:13-22.49e (if available):
Court decisions that cite this statute:
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