N.J. Admin. Code § 17:1-2.12

Current through Register Vol. 56, No. 21, November 4, 2024

Section 17:1-2.12 - Lost pension checks; direct deposit of pension payments

(a) Upon receiving notification that a retiree or other payee has not received a particular check for whatever reason, the Division shall send the payee an affidavit of non-receipt for completion.

1. Upon receipt of the affidavit of non-receipt, the Division shall send a stop payment order to the bank upon which the check was drawn. However, if theft is alleged, a stop payment order shall be sent to the bank immediately upon notification of the alleged theft.

2. Upon receipt of an acknowledgment from the bank of the stop payment notice, the Division shall issue a replacement check.

3. If the payee refuses to execute the affidavit, the procedure set forth in this subsection will be followed but a replacement check will not be issued until 90 days after the check date has passed.

(b) The Division upon being notified that the retiree has not received a particular check, shall review its canceled check file.

1. If the check has been paid, a copy of the check, together with a forged check affidavit, shall be sent to the retiree.

2. Upon receipt from the retiree of the properly executed affidavit and issuance of a credit by the bank to the account, a replacement check shall be issued.

(c) Members who retire on or after July 1, 2011, must receive their pension payment via direct deposit/electronic fund transfer (EFT).

1. Members may sign up for EFT/direct deposit of their retirement benefit payment in one of two ways:

i. Using the Internet-based Member Benefits Online System (MBOS), if the member has registered for an MBOS account; or

ii. Completing and submitting an Authorization for Direct Deposit of Benefit Payment form by mail.

2. When the bank or account information to which a pension payment is direct deposited requires updating, members can update their direct deposit/EFT authorization information in one of three ways:

i. Using the Member Benefits Online System (MBOS) via the Internet, provided the member has registered for an MBOS account;

ii. Completing and submitting an Authorization for Direct Deposit of Benefit Payment form by mail; or

iii. Calling the Automated Information System by telephone.

3. Upon demonstration of good cause, the Director may waive the requirements of this subsection.

N.J. Admin. Code § 17:1-2.12

Amended by 48 N.J.R. 1306(a), effective 6/20/2016