New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 37 - MUNICIPAL, COUNTY AND AUTHORITY EMPLOYEES DEFERRED COMPENSATION PLANS
Subchapter 5 - THE EMPLOYER
Section 5:37-5.8 - No personal liability
Universal Citation: NJ Admin Code 5:37-5.8
Current through Register Vol. 56, No. 6, March 18, 2024
The employer or contractor shall not be held personally liable for any returns on investment of plan funds which are less than any participant or group of participants expected. The employer shall require a hold harmless provision in service agreements with contractors which includes an indemnification of the employer from any cause of action, together with the reasonable costs of litigation from acts or omissions by the contractor.
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