N.J. Admin. Code § 5:30-14.13

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

Section 5:30-14.13 - Pre-existing LOSAP programs

(a) Benefit programs, such as annuities, which are similar to LOSAPs and which were offered to members of volunteer emergency service organizations prior to enactment of N.J.S.A. 40A:14-183 et seq. (January 19, 1998), may be continued subject to the following requirements:

1. Participants of pre-existing benefits programs who were vested at a level in excess of $ 750.00 per month as of January 19, 1998, may continue to receive benefits at that level.

2. Participants of pre-existing benefit programs who vest after January 19, 1998, shall not receive a benefit in excess of $ 750.00 per month, except that the level may be adjusted annually pursuant to N.J.S.A. 40A:14-185(f) and N.J.A.C. 5:30-14.9.

N.J. Admin. Code § 5:30-14.13