N.J. Admin. Code § 5:37-7.8

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

Section 5:37-7.8 - Contractor disclosure

(a) A potential contractor shall fully disclose to the employer in writing at the time a proposal is submitted for consideration, any arrangement it may have to pay endorsement fees to organizations whose membership includes local public employees of the employer.

(b) A potential contractor shall disclose to the employer and to the employees the fees charged, the fee and commission structure, the investment plan offered, and any other pertinent information which the employer may need in evaluating the contractor's fee and service.

(c) All service agreements shall contain termination clauses with respect to transfers of assets or responsibility under the plan.

N.J. Admin. Code § 5:37-7.8