N.J. Admin. Code § 12:21-2.34

Current through Register Vol. 57, No. 1, January 6, 2025

Section 12:21-2.34 - Employee contributions to private plans

(a) Employee contributions to a private plan shall be deposited in a trust fund account and shall not be part of an employer's assets.

(b) Trust fund assets deposited by an employer as required under (a) above shall be used only for the administration and payment of family leave insurance benefits.

(c) Employers shall make trust fund accounts available for periodic inspection and audit by the Division at the discretion of the Director.

(d) Upon termination of a contributory private plan for family leave insurance benefits, excess contributions remaining in the trust account shall, after five completed calendar quarters, be remitted to the Division for deposit in the Fund.

N.J. Admin. Code § 12:21-2.34