New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 3 - TEACHERS' PENSION AND ANNUITY FUND
Subchapter 4 - MEMBERSHIP
Section 17:3-4.4 - Loan tolerance
Universal Citation: NJ Admin Code 17:3-4.4
Current through Register Vol. 56, No. 6, March 18, 2024
Interest will be calculated on a periodic basis on the unpaid loan balance. If scheduled payments are not paid timely, interest will be accrued and added to the remaining outstanding loan balance. If, at the end of the loan schedule, there is a balance of less than $ 50.00, it will be written off. If the balance is equal to or greater than $ 50.00, the member will be assessed.
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