N.J. Admin. Code § 17:2-8.5

Current through Register Vol. 56, No. 12, June 17, 2024

Section 17:2-8.5 - Interfund transfers

(a) A person who contributes to another State-administered retirement system and was not employed as a prosecutor on September 24, 2021, is not eligible to have any portion of his or her State-administered defined benefit retirement system credit transferred into the Prosecutors Part. The State-administered defined benefit retirement system service shall be credited as regular PERS credit.

(b) The service credit of a member of the Prosecutors Part who transfers into another State-administered retirement system, pursuant to N.J.S.A. 43:2-1, shall be converted into service credit in the new retirement system. If the member later transfers back into the Public Employees' Retirement System, service previously credited in the Prosecutors Part shall be credited as Prosecutors Part service, while all other service shall be credited as regular PERS service.

Amended by 50 N.J.R. 646(a), effective 1/16/2018

Amended by 55 N.J.R. 749(a), effective 4/17/2023