N.J. Admin. Code § 17:8-4.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 17:8-4.1 - Qualified voluntary employee contribution account

(a) An account shall be maintained in order to properly account for the receipt and accumulation of the contributions made pursuant to this subchapter.

(b) An individual account shall be maintained for each participant.

(c) At the retirement of a participant, the number of equity units in the participant's account as of the date of retirement shall be transferred, determined, and payable as an annuity, all in accordance with the provisions of 17:8-1.6.

(d) Investment income and gains and losses on the contributions made under this subchapter shall be credited or charged in accordance with the provisions of 17:8-1.7, and computation of dollar values of the equity units shall be made in accordance with 17:8-1.8.

(e) Contributions made under this subchapter shall be commingled for investment purposes with voluntary contributions otherwise made under the Trust.

N.J. Admin. Code § 17:8-4.1