N.J. Admin. Code § 17:3-6.18

Current through Register Vol. 56, No. 17, September 3, 2024

Section 17:3-6.18 - Option 1 benefit

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.

N.J. Admin. Code § 17:3-6.18

Amended by R.2002 d.352, effective 11/4/2002.
See: 34 New Jersey Register 1997(a), 34 New Jersey Register 3782(c).
Inserted "regular" preceding "monthly" and neutralized gender references throughout.