N.J. Admin. Code § 17:4-6.14

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

Section 17:4-6.14 - Compulsory retirement

(a) Compulsory retirement at age 65 is applicable to all members.

(b) The retirement will be effective on the first day of the month following the 65th birthdate.

(c) A full deduction for the month of attaining the compulsory retirement age will be made if the member's partial salary covers the regular monthly deduction.

(d) Any deduction taken after the compulsory month of retirement will be refunded and no further pension credits recognized.

(e) The Division shall send written notice to the member and the member's employer between 120 and 180 days in advance of the date on which the member shall be required to retire.

(f) A member shall be retired automatically by the Board as of the member's compulsory retirement date following the member's 65th birthday.

(g) Should a member fail to file an "Application for Retirement Allowance" before the member's compulsory retirement date, no retirement checks will be disbursed until the member files the required application.

(h) When such a member files an application with the Division, the member shall be eligible to receive retirement benefits for the months that have elapsed since the compulsory retirement date, provided satisfactory evidence is received to show that the member terminated employment as of the compulsory retirement date.

(i) No retirement benefits shall be paid for any period the member continued in service beyond the compulsory retirement date, nor shall the member receive any credit for retirement purposes for salary received or for service rendered beyond the compulsory retirement date.

(j) Any member in service who attains 65 years of age shall be retired on a service retirement allowance on the first day of the next calendar month, except that a member hired prior to January 1, 1987 may remain a member of the System until the member attains age 68 years or 25 years of creditable service, whichever comes first pursuant to 43:16A-5.

N.J. Admin. Code § 17:4-6.14

Amended by R.2001 d.66, effective 2/20/2001.
See: 32 N.J.R. 4060(a), 33 N.J.R. 684(a).
In (b), deleted ", if not voluntarily established before that date" following "65th birthdate"; in (e) through (i), neutralized gender references; deleted (j).
Amended by R.2011 d.235, effective 9/6/2011.
See: 43 N.J.R. 1177(a), 43 N.J.R. 2364(b).
Added (j).