N.J. Admin. Code § 17:7-5.3

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

Section 17:7-5.3 - Employer contributions

(a) The employer contribution(s) will be made be as follows:

1. Based on a certification to the Division by Rutgers, the State University; Rowan University; University Hospital; and the New Jersey Institute of Technology of the number and base salary of participants, the Division shall authorize the State to make payment of the employer contributions to the ABP Retirement Plan at a rate equal to eight percent of the participant's base salary, except the amount of the contribution shall not exceed eight percent of the maximum salary for department officers established pursuant to section 1 of P.L. 1974, c. 55 (N.J.S.A. 52:14-15.107), which moneys shall be paid to the pension providers for the benefit of each participant.

2. Based on a certification by the Division of the number and base salary of participants employed by the State and county colleges, the State shall make payment of the employer contributions to the ABP Retirement Plan at a rate equal to eight percent of the participant's base salary, except the amount of the contribution shall not exceed eight percent of the maximum salary for department officers established pursuant to section 1 of P.L. 1974, c. 55 (N.J.S.A. 52:14-15.107), which moneys shall be paid to the pension providers for the benefit of each participant.

3. For a member of the Public Employees' Retirement System employed by the county colleges, who is defined in the rules of the Division as a full-time member of the faculty and who is permitted to transfer his or her membership and does so, the State shall pay the employer contribution to the ABP Retirement Plan at a rate equal to eight percent of the participant's base salary, except the amount of the contribution shall not exceed eight percent of the maximum salary for department officers established pursuant to section 1 of P.L. 1974, c. 55 (N.J.S.A. 52:14-15.107).

4. For any non-academic employee of a county college who is eligible for the Alternate Benefit Program according to the rules of the Division, the county college shall pay the employer contribution to the ABP Retirement Plan on the employee's behalf in the same manner as the State, pursuant to this section.

(b) No employer contributions will be paid when the participant is on a leave of absence without pay or when the participant no longer meets the definition of eligible employee.

(c) Timely State reimbursement of employer contributions is dependent upon receipt in good order by the Division of all necessary certifications and information.

N.J. Admin. Code § 17:7-5.3

Adopted by 47 N.J.R. 905(b), effective 5/4/2015.