N.J. Admin. Code § 17:16-69.8

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

Section 17:16-69.8 - Distribution of realized gains

(a) Subsequent to the receipt of audited financial statements for the prior fiscal year, the Council may consider the realized gains in each Common Pension Fund per unit. The Council may, in its sole discretion, choose either of the following options with respect to each such Common Pension Fund:

1. Declare as income to the participating funds such percentage of said realized gains as it may deem prudent. When such declaration is made, the percentage of such gains declared to be income shall be deducted from the total net assets of each Common Pension Fund and distributed to the participating funds in proportion to the number of units owned; or

2. Retain any or all realized gains for future investments within each Common Pension Fund.

N.J. Admin. Code § 17:16-69.8

Recodified from N.J.A.C. 17:16-69.11 and amended by R.2006 d.317, effective 9/5/2006.
See: 38 N.J.R. 2039(a), 38 N.J.R. 3632(a).
In introductory paragraph of (a), deleted "State Investment" preceding "Council". Former N.J.A.C. 17:16-69.8, Valuation of units, recodified to N.J.A.C. 17:16-69.5.
Amended by R.2012 d.020, effective 1/17/2012.
See: 43 N.J.R. 2286(a), 44 N.J.R. 176(a).
In the introductory paragraph of (a), substituted "either" for "any or all"; rewrote (a)1; deleted (a)2; and recodified (a)3 as (a)2.
Amended by R.2014 d.038, effective 3/3/2014.
See: 45 N.J.R. 1477(a), 46 N.J.R. 442(a).
Section was "Distribution of realized appreciation". In (a), substituted "each Common Pension Fund" for "the common fund".