N.J. Admin. Code § 17:16-95.4

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

Section 17:16-95.4 - Limitations

(a) At the time of initial purchase, the following conditions shall be met:

1. Not more than seven percent of the combined assets of all the Pension and Annuity Funds shall be invested in opportunistic investments in the aggregate. This limitation shall be applied to the Pension and Annuity Funds' proportionate interest in opportunistic investments; and

2. Not more than two percent of the combined assets of all the Pension and Annuity Funds shall be invested in any one opportunistic investment. This limitation shall be applied to the Pension and Annuity Funds' proportionate interest in any one opportunistic investment.

(b) If, subsequent to initial purchase, the limitations in (a) above are exceeded, then the Council shall be notified at the next regularly scheduled meeting of the Council. The Division may be granted a six-month period of grace to reduce the level of participation below the maximum levels, except that the period of grace may be extended for additional four-month periods with the approval of the Council.

N.J. Admin. Code § 17:16-95.4

Amended by 51 N.J.R. 1130(b), effective 7/1/2019