New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 2 - PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Subchapter 3 - INSURANCE AND DEATH BENEFITS
Section 17:2-3.6 - Survivor benefits
Current through Register Vol. 56, No. 6, March 18, 2024
(a) Payment of benefits to eligible survivors shall become effective on the first of the month subsequent to the member's death and shall terminate on the first of the month subsequent to the date in which the survivor no longer qualifies for such benefits.
(b) In the instance of an active member who dies in the performance of duty (accidental death), the initial pension payment will be for the month following the month in which the member died, and the last payment will cover the month the survivor dies or ceases to qualify for the continuance of benefits.
(c) In calculating an Option 1 reserve balance upon the death of a retired member, when a beneficiary elects an annuity certain (specified number of years) or a life annuity, the applicable factor is based upon the beneficiary's age at the time of the member's death. If a beneficiary is six months or more past his or her birthday, the factor is based upon the beneficiary's age on his or her next birthday.
(d) In calculating the group life insurance benefits upon the death of an active employee when a beneficiary elects an annuity certain (specified number of years) or a life annuity, the applicable factor is based solely upon the beneficiary's age at the time of the member's death and is not rounded up to the next birthday.
