N.J. Admin. Code § 17:4-4.8

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

Section 17:4-4.8 - Maximum compensation limit

(a) Employees who are enrolled on or after May 21, 2010 are subject to a maximum compensation limit for pension contributions. The maximum compensation limit is based on the annual maximum wage contribution base for Social Security, which is subject to change each calendar year. Compensation above the maximum will be subject to Defined Contribution Retirement Program (DCRP) rules.

(b) Members enrolled in the PFRS, who also participate in the DCRP pursuant to (a) above will receive service credit in their corresponding PFRS account, and will be eligible to retire under the rules of the PFRS. The salaries used in the calculation of the retirement benefits are limited to the maximum compensation amounts in effect when the salary is earned.

Amended by R.2001 d.66, effective 2/20/2001.
See: 32 N.J.R. 4060(a), 33 N.J.R. 684(a).
Neutralized gender references throughout.
Repealed by R.2001 d.66, effective 2/20/2001.
See: 32 N.J.R. 4060(a), 33 N.J.R. 684(a).
Section was "Military leave".
Recodified from N.J.A.C. 17:4-6.6 and amended by R.2004 d.410, effective 11/1/2004.
See: 36 N.J.R. 622(a), 36 N.J.R. 4953(a).
Rewrote the section.
Amended by R.2006 d.130, effective 4/3/2006.
See: 37 N.J.R. 4521(a), 38 N.J.R. 1578(a).
In (a), substituted "Retirement System" for "system"; in (d), added "or settlement" throughout, following NJAC cite, deleted "the member shall have the contributions for the salaries based on the award refunded without interest, and", and added "and the member shall have the pension contributions for the salaries found not to be creditable refunded without interest".
Repealed by R.2010 d.189, effective 9/7/2010.
See: 42 N.J.R. 898(a), 42 N.J.R. 2140(b).
Section was "Service and salary credit: awards of back pay".
Administrative correction.
See: 43 N.J.R. 59(a).
Repealed by R.2011 d.064, effective 2/22/2011.
See: 42 N.J.R. 898(a), 43 N.J.R. 449(b).
Section was "Service and salary credit: awards of back pay".
New Rule, R.2011 d.235, effective 9/6/2011.
See: 43 N.J.R. 1177(a), 43 N.J.R. 2364(b).
Section was "Reserved".