New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 7 - ALTERNATE BENEFIT PROGRAM
Subchapter 11 - GENERAL PROVISIONS-ABP PROGRAM
Section 17:7-11.16 - Power-of-attorney
Current through Register Vol. 56, No. 6, March 18, 2024
(a) A power-of-attorney is not effective to permit the attorney-in-fact to submit any claim, instruction, direction, or consent under the Program or otherwise act regarding the Program, unless the Plan Administrator, in his or her discretion, finds that the power-of-attorney is acceptable.
(b) Without limiting the effect of (a) above, the Plan Administrator will not accept a power-of-attorney until he or she finds that the power-of-attorney:
(c) A general grant of power in the power-of-attorney for the attorney-in-fact to handle the participant's affairs, without specific authorization in the power-of-attorney to deal with the member's retirement benefits, does not authorize the attorney-in-fact to conduct any business on behalf of the participant with the Program.
(d) The attorney-in-fact may not designate himself or herself as the beneficiary for a retirement benefit unless the power-of-attorney authorizes the attorney-in-fact to designate himself or herself as a retirement beneficiary or authorizes the attorney-in-fact to give gifts of the participant's property to himself or herself.