New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 3 - TEACHERS' PENSION AND ANNUITY FUND
Subchapter 6 - RETIREMENT
Section 17:3-6.18 - Option 1 benefit
Universal Citation: NJ Admin Code 17:3-6.18
Current through Register Vol. 56, No. 18, September 16, 2024
The reserve established under the provisions of Option 1 shall be a form of reducing term insurance, as the reserve shall reduce in value by the amount of the retirant's regular monthly allowance, whether received or not, for each month that the retirant survives after the effective date of retirement.
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