N.J. Admin. Code § 17:1-2.13

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

Section 17:1-2.13 - Administrative expenses; prorated among systems

(a) Not later than 60 days after receipt of the expenditures by account, the Division will prepare a complete fiscal statement indicating the administrative expenses incurred by the Division within its State appropriation for the previous fiscal year ending the prior June 30.

1. Such statement will reflect the total expenses incurred in each account within the Division's appropriation;

2. Supplemental statements will be prepared allocating specific costs attributable to each of the retirement systems, State Health Benefits Program, and the School Employees' Health Benefits Program within the operation of the respective bureaus; and

3. Included in the administrative expenses incurred by the Division shall be those of the State Division of Investment as the expenses of that Division pertain to the investment of monies appropriate to each retirement system or fund calculated on the number of transactions processed for the respective systems.

(b) To the extent that there are costs that are attributable to the Division as a whole, as distinguished from costs attributable to each separate program administered by the Division, all systems will share in the cost of the Division's expenses on a pro rata basis.

(c) The State shall be reimbursed on a monthly basis for operational costs.

N.J. Admin. Code § 17:1-2.13

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