N.J. Admin. Code § 17:2-3.9
Current through Register Vol. 56, No. 11, June 3, 2024
If a member's date of PERS enrollment was on or after July 1, 1971, noncontributory life insurance shall be payable after the death of a retired member, only if the member established 10 or more years of pension membership credit at the time of retirement, or retired on a disability retirement. The life insurance shall equal 3/16 of the retiree's last 10 months of salary if formerly employed on a 10-month basis, or 12 months of salary if formerly employed on a 12-month basis. No premium payments are required to continue the 3/16 coverage after retirement. Contributory group life insurance coverage ceases at retirement.
N.J. Admin. Code § 17:2-3.9
See: 31 New Jersey Register 3229(a), 32 New Jersey Register 304(a).