N.J. Admin. Code § 17:4-2.7

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

Section 17:4-2.7 - Enrollment following deferred retirement

(a) For a member who has enrolled in the retirement system prior to May 21, 2010, the membership account under which a member elected deferred retirement who resumes regular service prior to age 55 shall be continued provided the member returns to service within the two-year period stipulated by 43:16A-3(3), or the longer period provided by 43:16A-3(5).

(b) Should a member who has enrolled in the retirement system prior to May 21, 2010, who elected a deferred retirement, resume regular service prior to age 55 after the period for continued membership stipulated by 43:16A-3(3) or 43:16A-3(5) has expired, then such member shall be enrolled in the retirement system under a new membership account and shall be subject to such benefits and requirements as shall apply to new members of the retirement system as of the date of such new enrollment, except that such member shall not be required to again satisfy the age requirements for enrollment in the System.

(c) In the event that (b) above applies, the member may elect to transfer all service credit associated with the previously vested membership to the new membership account and such service credit will be subject to the benefits and requirements as shall apply to new members of the retirement system as of the date of such new enrollment. Should the member elect not to transfer the service credit associated with the vested membership to the new membership account, no benefits shall be payable from the previous application for deferred retirement until such time as the member has terminated all PFRS eligible employment.

N.J. Admin. Code § 17:4-2.7

New Rule, R.2011 d.235, effective 9/6/2011.
See: 43 N.J.R. 1177(a), 43 N.J.R. 2364(b).