N.J. Admin. Code § 17:4-7.2

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

Section 17:4-7.2 - Intrafund transfers; State-administered retirement systems

(a) Members who leave one public employer and take a position with another public employer covered by the same retirement system are immediately eligible to transfer their membership to their new employers, as long as the following conditions are met:

1. The member has not withdrawn his or her contributions;

2. The account has not expired; that is, it has not been more than two years between the date of the last contribution received from the old employer and the starting date of contributions with the new employer or there was enough service credit to be eligible for a deferred retirement; and

3. The account has not been canceled due to Board of Trustees action. It is the responsibility of the employer to establish the employee's pension account status. For accounts that are withdrawn, expired or canceled, an enrollment application is needed, and the age and medical requirements for enrollment are again in effect;

(b) To transfer the member's account to the new employer, the new employer should file a Report of Transfer with the Division of Pensions and Benefits within 10 working days of the date employment begins. If more than one year elapses between the date that the member was required to contribute to the retirement system and the date contributions were first certified, the employer shall be assessed a late enrollment employer liability penalty plus delayed appropriation costs.

N.J. Admin. Code § 17:4-7.2

New Rule, R.2001 d.66, effective 2/20/2001.
See: 32 N.J.R. 4060(a), 33 N.J.R. 684(a).
Amended by R.2006 d.130, effective 4/3/2006.
See: 37 N.J.R. 4521(a), 38 N.J.R. 1578(a).
In (a)1, substituted "his or her contributions" for "from the System".