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New Jersey Statutes, Title: 43, PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
Chapter 3c: Pensioners in public employment
Section: 43:3c-5: Agreement for direct deposit of monthly payment for retirant or beneficiary
Any law, rule or regulation to the contrary notwithstanding, the Division of Pensions shall honor an agreement executed between a retirant or beneficiary of any retirement system established pursuant to the laws of this State and a depository institution for the direct deposit in the depository institution of the monthly payment of the retirement allowance of the retirant or beneficiary; provided, however, that the depository institution assumes the full responsibility for the receipt and collection of the monthly payment, and, provided further that the agreement is consummated pursuant to such rules and regulations as shall be promulgated by the Division of Pensions.
L.1981, c. 213, s. 2, eff. July 20, 1981.
This section added to the Rutgers Database: 2012-09-26 13:37:53.
Older versions of 43:3c-5 (if available):
Court decisions that cite this statute:
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