New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 2 - PUBLIC EMPLOYEES' RETIREMENT SYSTEM
Subchapter 4 - MEMBERSHIP
Section 17:2-4.8 - Military leave prior to August 1, 1974; employer contributions
Universal Citation: NJ Admin Code 17:2-4.8
Current through Register Vol. 56, No. 6, March 18, 2024
(a) The following conditions apply to employer contributions for service during military leave prior to August 1, 1974:
1. Military leave contributions remitted by an employer on behalf of an employee who does not return to the payroll for the minimum 90-day period required by N.J.S.A. 43:15A-41.a, shall be retained by the System. Such contributions shall be transferred from the annuity savings fund to the contingent reserve fund.
2. Military leave contributions remitted by an employer shall be based on the employee's salary at the time the member entered military service.
3. Payroll as referred to above shall be interpreted to mean any public payroll in New Jersey, not necessarily the payroll of the employer where the member was employed when the member entered military service.
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