N.J. Admin. Code § 17:6-18.4

Current through Register Vol. 57, No. 1, January 6, 2025

Section 17:6-18.4 - Disability Premium Fund

(a) The Plan Administrator shall maintain the Defined Contribution Retirement Program Disability Premium Fund (the "Disability Premium Fund") created under N.J.S.A. 43:15C-14 for the purpose of receiving and holding employer contributions with respect to the Group Disability Benefit Plan and transmitting such contributions from time to time to the appropriate insurance provider(s) for this benefit.

(b) Amounts in the Disability Premium Fund shall not be part of the Trust with respect to the Retirement Plan, but shall be separately accounted for. The Plan Administrator may establish one or more bank accounts or otherwise designate a custodian with respect to the Disability Premium Fund, and shall generally be empowered to take all actions as may be necessary or desirable to maintain and administer the Disability Premium Fund.