N.J. Admin. Code § 17:4-6.3

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

Section 17:4-6.3 - Effective dates; changes

(a) Except as provided by 17:4-6.7, a member shall have the right to withdraw, cancel or change an application for retirement at any time before the member's retirement allowance becomes due and payable by sending a written request signed by the member. Thereafter, the retirement shall stand as approved by the Board.

(b) If a member requests a change in the retirement application before the retirement allowance becomes due and payable, said change will require approval of the Board and the revised retirement allowance shall not become due and payable until one month has elapsed following the effective date or 30 days after the date the Board met and approved the change in the member's retirement application, whichever is later.

(c) A deferred retirement shall become effective on the first of the month following the member's 55th birthday. If the member's 55th birthday falls on the first of a month, the retirement shall become effective on that date, provided the member files a timely retirement application pursuant to 43:16A-11.2 and requests that retirement date.

(d) Should the member continue to receive a salary beyond the effective date of retirement after approval of the retirement by the Board, no retirement benefits shall be paid for the period where the member received salary and no salary or service credit shall be provided for the service rendered after the approved, effective date of retirement. This restriction also applies to payments of accrued sick or vacation time that is paid in periodic payments on the employer's regular payroll schedule.

N.J. Admin. Code § 17:4-6.3

Recodified from N.J.A.C. 17:4-6.2 and amended by R.2001 d.66, effective 2/20/2001.
See: 32 N.J.R. 4060(a), 33 N.J.R. 684(a).
Rewrote the section. Former N.J.A.C. 17:4-6.3, Effective date; death prior thereto, recodified to N.J.A.C. 17:4-6.2.
Amended by R.2005 d.232, effective 7/18/2005.
See: 37 N.J.R. 573(a), 37 N.J.R. 2687(a).
In (a), substituted "Except as provided by N.J.A.C. 17:4-6.7, a" for "A"; rewrote (e).
Amended by R.2006 d.130, effective 4/3/2006.
See: 37 N.J.R. 4521(a), 38 N.J.R. 1578(a).
In (e), added the last sentence.
Amended by R.2011 d.235, effective 9/6/2011.
See: 43 N.J.R. 1177(a), 43 N.J.R. 2364(b).
In (b), substituted "If" for "Except in the event of deferred retirement, if"; deleted former (d); recodified former (e) as (d); and in (d), deleted "of Trustees" following "Board".