Current through Register Vol. 57, No. 1, January 6, 2025
Section 11:15-5.19 - Investments; application of investment income(a) The free balance of any account maintained by a joint insurance fund, whether for administrative, contingency or claims or loss purposes, shall be invested to obtain the maximum interest return practicable. All investments shall be in accordance with the fund's cash management plan and consistent with the statutes and regulations of the State Investment Council governing the investments of surplus public monies of the State or otherwise transferred to the Director of the Division of Investment pursuant to N.J.S.A. 18A:18B-4b.(b) The investment and interest income earned by the investment of the assets of each claim or loss retention fund account shall be allocated to each account by fund year.(c) The investment and interest income earned by investment of the assets of the administrative and contingency accounts shall be credited to each such account. N.J. Admin. Code § 11:15-5.19