Current through Register Vol. 56, No. 6, March 18, 2024
(a) For a member enrolled in the PERS prior to November 2, 2008, who elects a deferred retirement:
1. If the member resumes regular service prior to age 60 and within the two-year period stipulated by N.J.S.A. 43:15A-7.e, or the longer period provided by N.J.S.A. 43:15A-8.a, the membership account under which a member elected deferred retirement shall be continued.
2. If the member resumes regular service prior to age 60, but after the period for continued membership stipulated by N.J.S.A. 43:15A-7.e or 8.a has expired, then such member shall be enrolled in the PERS under a new membership account and shall be subject to such benefits and requirements as shall apply to new members of the PERS as of the date of such new enrollment.
(b) For a member enrolled in the PERS on or after November 2, 2008, but prior to June 28, 2011, who elects a deferred retirement:
1. If the member resumes regular service prior to age 62 and within the two-year period stipulated by N.J.S.A. 43:15A-7.e, or the longer period provided by N.J.S.A. 43:15A-8.a, the membership account under which the member elected a deferred retirement shall be continued.
2. If the member resumes regular service prior to age 62, but after the period for continued membership stipulated by N.J.S.A. 43:15A-7.e or 8.a has expired, then such member shall be enrolled in the PERS under a new membership account and shall be subject to such benefits and requirements as shall apply to new members of the PERS as of the date of such new enrollment.
(c) For a member enrolled in the PERS on or after June 28, 2011, who elects a deferred retirement:
1. If the member resumes regular service prior to age 65 and within the two-year period stipulated by N.J.S.A. 43:15A-7.e, or the longer period provided by N.J.S.A. 43:15A-8.a, the membership account under which a member elected a deferred retirement shall be continued.
2. If the member resumes regular service prior to age 65, but after the period for continued membership stipulated by N.J.S.A. 43:15A-7.e or 8.a has expired, then such member shall be enrolled in the PERS under a new membership account and shall be subject to such benefits and requirements as shall apply to new members of the PERS as of the date of such new enrollment.
(d) In the event that (a)2, (b)2, or (c)2 above applies, the member may elect to transfer all service credit associated with the previously vested membership to the new membership account and such service credit will be subject to the benefits and requirements as shall apply to new members of the PERS as of the date of such new enrollment. Should the member elect not to transfer the service credit associated with the vested membership to the new membership account, no benefits shall be payable from the previous application for deferred retirement until such time as the member has terminated all PERS-eligible employment.
