New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 4 - POLICE AND FIREMEN'S RETIREMENT SYSTEM
Subchapter 4 - MEMBERSHIP
Section 17:4-4.8 - Maximum compensation limit

Universal Citation: NJ Admin Code 17:4-4.8

Current through Register Vol. 56, No. 18, September 16, 2024

(a) Employees who are enrolled on or after May 21, 2010 are subject to a maximum compensation limit for pension contributions. The maximum compensation limit is based on the annual maximum wage contribution base for Social Security, which is subject to change each calendar year. Compensation above the maximum will be subject to Defined Contribution Retirement Program (DCRP) rules.

(b) Members enrolled in the PFRS, who also participate in the DCRP pursuant to (a) above will receive service credit in their corresponding PFRS account, and will be eligible to retire under the rules of the PFRS. The salaries used in the calculation of the retirement benefits are limited to the maximum compensation amounts in effect when the salary is earned.

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