New Jersey Administrative Code
Title 17 - TREASURY - GENERAL
Chapter 7 - ALTERNATE BENEFIT PROGRAM
Subchapter 17 - ALTERNATE BENEFIT PROGRAM GROUP LIFE INSURANCE PLAN
Section 17:7-17.1 - Benefit

Universal Citation: NJ Admin Code 17:7-17.1

Current through Register Vol. 55, No. 48, December 18, 2023

(a) As of July 1, 1969, the group contract providing life insurance for all participants in the Alternate Benefit Program of each public institution of higher education in the State shall be on a non-contributory basis and shall be in lieu of any non-contributory and contributory benefits provided pursuant to N.J.S.A. 18A:64C-11.1 through 11.9 (inclusive) and article 16 of Chapter 65 of Title 18A of the New Jersey Statutes, P.L. 1967, c. 278 and 281, and P.L. 1968, c. 181. In accordance with the provisions of this act such group contract or contracts providing life insurance shall be in an amount equal to three and one-half times the base annual salary at the time of death of the participant in the Alternate Benefit Program; provided, however, that if death shall occur after retirement, the amount payable shall equal one-half of the participant's base annual salary at the time of the participant's retirement.

(b) No beneficiary of a retired member shall be entitled to receive the death benefits payable in the event of death after retirement pursuant to this section unless such member:

1. Had at least 10 years of credited New Jersey participation in the Alternate Benefit Program; and

2. Had attained 60 years of age and was an actively employed participant in the Alternate Benefit Program in the year immediately preceding his or her initial receipt of a benefit from the ABP Retirement Plan.

(c) For purposes of this section, a participant shall be deemed to be in service and covered by the group life insurance for a period of no more than 93 days while on official leave of absence without pay when such leave is due to any reason other than illness, except for a leave up to one year to fulfill a residency requirement for an advanced degree, for a period of no more than one year in the event of an official leave due to maternity and for a period of no more than two years if satisfactory evidence is presented to the Division that such official leave of absence without pay is due to illness. A participant shall be deemed to be on an official leave of absence only if the leave is formally approved by his or her employer prior to the time the leave commenced and timely notice is filed by the employer with the Division; the lack of such timely notice shall place the responsibility for the payment of any benefits pursuant to this section directly upon the employer if the participant was otherwise eligible for such benefits.

(d) In the event of the death of a participant in active service in the first year of participation as a result of an accident met in the actual performance of duty at some definite time and place, the death benefit payable pursuant to this section shall be computed at the participant's current annual rate of base salary.

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