N.J. Admin. Code § 17:16-65.3

Current through Register Vol. 56, No. 24, December 18, 2024

Section 17:16-65.3 - Units of participation

(a) DCP Funds shall be composed of units of participation of unlimited quantity. Each unit of participation shall represent an equal beneficial interest in each respective DCP Fund and no unit shall have priority or preference over any other in each respective DCP Fund. Each unit of participation shall be valued at the net asset value per unit in accordance with N.J.A.C. 17:16-65.5.

(b) All units of participation in the New Jersey State Employees Deferred Compensation Plan (DCP), representing net capital contributions to the DCP Funds together with any income thereon, shall be evidenced by proper entries setting forth ownership units in the records of the persons, entities, or organizations engaged by the New Jersey State Employees Deferred Compensation Board to administer the plan, which may include the Division of Pensions and Benefits, Department of the Treasury, and/or one or more private organizations contracting with the Division pursuant to N.J.S.A. 52:18A-167 (collectively, the Plan Administrator).

(c) All units of participation shall be purchased by cash payments. All units shall be purchased for the unit valuation price determined by this subchapter.

N.J. Admin. Code § 17:16-65.3

Recodified by R.1991 d.274, effective 6/3/1991.
See: 23 N.J.R. 983(a), 23 N.J.R. 1800(b).
Citations corrected.
Amended by R.2005 d.347, effective 10/17/2005.
See: 37 N.J.R. 2150(a), 37 N.J.R. 4032(a).
Rewrote the section.
Recodified from N.J.A.C. 17:16-65.5 and amended by R.2006 d.317, effective 9/5/2006.
See: 38 N.J.R. 2039(a), 38 N.J.R. 3632(a).
Rewrote the section. Former N.J.A.C. 17:16-65.3, Distribution of income, repealed.
Amended by R.2012 d.194, effective 12/3/2012.
See: 44 N.J.R. 1966(a), 44 N.J.R. 2999(b).
In (b), inserted "(DCP)"; and in (c), substituted "unit" for "principal".