N.J. Admin. Code § 17:7-17.4

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

Section 17:7-17.4 - Life Insurance Premium Fund

(a) Premiums for such group insurance coverage shall be paid from a special fund, hereby created, called the "Alternate Benefit Group Insurance Premium Fund." The State Treasurer shall estimate annually the amount that will be required for premiums for such benefits for the ensuing fiscal year and shall certify such amounts that shall be applied against the total employer contributions due for the participants from the several institutions where the Alternate Benefit Program is established, depositing such amounts in the Alternate Benefit Group Insurance Premium Fund.

(b) During the period such group insurance policy or policies are in effect with respect to participants in the Alternate Benefit Program, the State Treasurer shall in no way commingle moneys in this fund with any pension funds established under the Alternate Benefit Program.