N.J. Admin. Code § 11:15-7.20

Current through Register Vol. 56, No. 23, December 2, 2024

Section 11:15-7.20 - Investments; application of investment income

(a) The free balance of any account maintained by a risk management group, whether for claim or loss retention, administrative, or contingency, shall be invested to obtain the maximum interest return practicable. All investments shall be made in accordance with the group's cash management plan and consistent with the statutes and regulations of the State Investment Council governing the investment of surplus public monies of the State.

(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 such account by fund year.

(c) The investment and interest income earned by investment of the assets of the administrative account shall be credited to that account.

N.J. Admin. Code § 11:15-7.20