N.J. Admin. Code § 17:5-5.9

Current through Register Vol. 56, No. 17, September 3, 2024

Section 17:5-5.9 - Determination of final compensation

(a) In computing the salary upon which pension contributions were based during the member's last year of service, a total of 26 biweekly pays will be used including any retroactive salary payments which are attributable to those 26 biweekly pay periods. The total salary will be adjusted by factors supplied by the actuary to compensate for State biweekly payroll schedules. The biweekly pay periods for which no contributions were made shall not be used in the calculation.

(b) An employee who is enrolled on or after May 21, 2010 will have final compensation based on the average annual compensation for the last three years of service, or any three fiscal years of membership that provide the largest possible benefit to the member or the member's beneficiary.

Amended by R.2001 d.128, effective 4/16/2001.
See: 33 N.J.R. 204(a), 33 N.J.R. 1205(a).
Rewrote section.
Amended by R.2012 d.042, effective 2/21/2012.
See: 43 N.J.R. 2568(a), 44 N.J.R. 507(c).
Inserted designation (a); and added (b).