Current through Register Vol. 55, No. 48, December 18, 2023
receipt of a public pension or retirement benefit is expressly conditioned upon the
renderings of honorable service by a public officer or employee. If the Board of an
employee's former system determines that all or a portion of the employee's prior
service is dishonorable, that portion of prior service deemed dishonorable will not
(b) Except as noted at
(a) above, a member is eligible to transfer the former membership in a
State-administered defined benefit retirement system into the retirement system that
covers the new eligible employment, if the member has first ended employment with
the former employer, and has not taken another position subject to coverage in the
State-administered retirement system of the former account which would have the same
effective date as the membership in the new State-administered retirement system.
1. A member desiring to transfer service credit
and contributions from one State-administered defined benefit retirement system to
another must file an "Application for Interfund Transfer." This application will
void all possible claims against the former system when approved and the new
membership is commenced in the new system.
2. The member's accumulated contributions, full
interest included, less any outstanding loan, shall be transferred to the new
membership account of the respective member. Any outstanding loan, back deductions,
or arrears obligation will be scheduled for repayment.
3. A statement reflecting the member's status as
of the date of transfer shall be prepared by the Withdrawal Section of the Division
and a copy forwarded to the former account.
4. The member's service credit established in the
former system shall be transferred into the new system.
5. The member is not eligible to transfer service
credit if any of the following conditions apply:
i. The member has withdrawn the former
ii. The member has credit in
the former system for service earned after the date of enrollment in the new system
(concurrent service) unless the member meets the criteria established by
N.J.S.A. 43:15A-14 provides
that a member of the TPAF at the time of enrollment in the PERS may transfer the
non-concurrent TPAF service if the member ceased to be an active contributing member
of the TPAF three or less years from the date of enrollment in the PERS. The member
must apply to transfer this service no more than two years from the date of the last
contribution to the TPAF, or the member's TPAF account has not expired due to the
provisions of N.J.S.A. 18A:66-8. A member
who transfers service under this provision shall receive credit for the salaries
earned in both the TPAF and PERS during the period of concurrent service;
iii. The account is inactive; that
is, it has been more than two years from the date of the last contribution nor has
the member's account remained active due to the provisions of
6. A data sheet shall be created for the member's
new account that will indicate an interfund transfer from the member's former system
and the service credit transferred into the new membership account.
7. The member's original enrollment date
established in the former system shall be transferred into the new system.
(c) The system will transfer membership
to any State-administered defined benefit retirement system, as provided in (b)
(d) The reserves accrued in the
former system will be valued and compared to the reserves required in the new
1. If the reserves accumulated or provided
for in the former system are less than those required in the new system, the full
reserve will be transferred.
2. If the
reserves accumulated or provided for in the former system are more than those
required in the new system, only the amount required to establish the credit will be
(e) Years of
credit will be subject to the benefit formula of the new system after
N.J.R. 646(a), effective 1/16/2018
by 55 N.J.R. 749(a), effective 4/17/2023