New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 3 - TEACHERS' PENSION AND ANNUITY FUND
Subchapter 3 - INSURANCE AND DEATH BENEFITS
Section 17:3-3.9 - Retired life insurance coverage

Universal Citation: NJ Admin Code 17:3-3.9
Current through Register Vol. 56, No. 6, March 18, 2024

If a member's date of TPAF enrollment was on or after July 1, 1970, noncontributory life insurance shall be payable after the death of a retired member, only if the member established 10 or more years of pension membership credit at the time of retirement, or retired on a disability retirement. The noncontributory life insurance coverage for service, early, veteran and deferred retirements as well as disability retirements where the retiree is age 60 or older shall equal 3/16 of the retiree's last 10 months of salary if formerly employed on a 10-month basis, or 12 months of salary if formerly employed on a 12-month basis. Contributory group life insurance coverage shall equal 4/16 of the retiree's last 10 months of salary if formerly employed on a 10-month basis, or 12 months of salary if formerly employed on a 12-month basis. No premium payments are required to continue the coverage after retirement.

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