N.J. Admin. Code § 17:2-6.18

Current through Register Vol. 56, No. 24, December 18, 2024

Section 17:2-6.18 - Option 1 benefit

The reserve established under the provisions of Option 1 shall be a form of reducing term insurance, as the reserve shall reduce in value by the amount of the retirant's regular monthly allowance, whether received or not, for each month that the retirant survives after the effective date of retirement.

N.J. Admin. Code § 17:2-6.18

Amended by R.2000 d.26, effective 1/18/2000.
See: 31 New Jersey Register 3229(a), 32 New Jersey Register 304(a).
Substituted a reference to regular monthly allowance for a reference to monthly allowance, and neutralized gender references throughout.
Amended by R.2005 d.75, effective 2/22/2005.
See: 36 New Jersey Register 4682(a), 37 New Jersey Register 619(b).