N.J. Stat. § 18A:66-175

Current through L. 2024, c. 80.

Section 18A:66-175 - Termination of membership or participation

Membership or participation in the alternate benefit program shall terminate and the individual shall be considered retired once he has elected to receive a distribution of the value of his accounts in a direct payout, a rollover, an annuity, or a combination thereof. Any such distribution shall occur only upon separation from service, unless the individual is a participant in a transition to retirement program that meets the requirements for such programs established by the Division of Pensions and Benefits.

N.J.S. § 18A:66-175

Amended by L., c. 120,s. 1, eff. 8/9/2013, app. retroactively to 7/1/2008.

L.1969, c.242, s.9; amended 1993, c.385, s.7.

See L., c. 120, s. 2.