N.J. Admin. Code § 17:5-5.3

Current through Register Vol. 56, No. 11, June 3, 2024

Section 17:5-5.3 - Effective dates; changes

(a) Except as provided by 17:5-5.7, a member shall have the right to withdraw, cancel or change an application for retirement at any time before the member's retirement allowance becomes due and payable by sending a written request signed by the member. Thereafter, the retirement shall stand as approved by the Board.

(b) Except in the event of deferred retirement, if a member requests a change of retirement date before the retirement allowance becomes due and payable, said change will require approval of the Board and the revised retirement allowance shall not become due and payable until one month has elapsed following the effective date or 30 days after the date the Board met and approved the change in the member's retirement application, whichever is later.

(c) If the applicant should die within 30 days following the date the Board of Trustees approved the revised application, the member shall be considered to be retired on the basis of the originally approved application for retirement, provided that the initial 30-day requirement was satisfied.

(d) A deferred retirement shall become effective on the first of the month following the member's 55th birthday. If the member's 55th birthday falls on the first of a month, the retirement shall become effective on that date, provided the member files a timely retirement application pursuant to 53:5A-28 and requests that retirement date.

(e) Should the member continue to receive a salary for services rendered beyond the effective date of retirement, no retirement benefits shall be paid for the period where the member received salary and no salary or service credit shall be provided for the service rendered after the effective date of retirement.

N.J. Admin. Code § 17:5-5.3

Recodified from N.J.A.C. 17:5-5.2 and amended by R.2001 d.128, effective 4/16/2001.
See: 33 New Jersey Register 204(a), 33 New Jersey Register 1205(a).
Rewrote section. Former N.J.A.C. 17:5-5.3, Effective date; death prior thereto, recodified to N.J.A.C. 17:5-5.2.
Amended by R.2005 d.206, effective 7/5/2005.
See: 37 New Jersey Register 396(a), 37 New Jersey Register 2554(c).
In (a), substituted "Except as provided by N.J.A.C. 17:5-5.7 a" for "A" in the beginning of the first sentence; rewrote (e).