N.J. Admin. Code § 12:17-8.4

Current through Register Vol. 56, No. 11, June 3, 2024

Section 12:17-8.4 - Constructive receipt of pension, retroactive receipt of pension and rollovers of pension distributions

(a) A reduction in benefits shall be made as of the first calendar week commencing after the claimant is given constructive receipt of a retirement pension award. Constructive receipt occurs when an individual has applied for a payment or benefit covered by section 3304(a)(15) of the Federal Unemployment Tax Act, 26 U.S.C. §§ 3301 et seq. and is notified in writing that it has been determined by responsible authorities that he or she is entitled to such payment or benefit in specified amounts for the same period that unemployment compensation is payable.

(b) Notwithstanding (a) above, an individual who receives a retroactive pension payment shall be subject to benefit reduction as of the first calendar week commencing after the effective date of pension entitlement as provided in this subchapter for any week he or she also received unemployment benefits and shall be liable to refund any resulting overpayment of benefits.

(c) There will be no reduction of benefits where there is a transfer of an eligible rollover distribution from a qualified trust to an eligible retirement plan (as defined under section 402(c)(8) of the Internal Revenue Code of 1986), if all the requirements of section 402 of the Internal Revenue Code are met within 60 days of receipt by the individual.

N.J. Admin. Code § 12:17-8.4

Amended by R.2003 d.276, effective 7/7/2003.
See: 35 N.J.R. 1527(a), 35 N.J.R. 2874(b).
In (b), substituted "Notwithstanding (a) above, an" for "A" preceding "individual who receives" and substituted "as of the first calendar week commencing after" for "from" preceding "the effective date".
Amended by R.2006 d.43, effective 1/17/2006.
See: 37 N.J.R. 3545(a), 38 N.J.R. 819(a).
Deleted (c).
Amended by R.2009 d.21, effective 1/5/2009.
See: 40 N.J.R. 4289(a), 41 N.J.R. 263(a).
Added (c).