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  • NJ A4
  • Requires State to pay its pension contributions on quarterly basis by September 30, December 31, March 31, and June 30 of each year, beginning July 1, 2017.
Introduced
(11/21/2016)
In CommitteeCrossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill requires the State to make its required contributions to the State-administered defined benefit retirement systems each State fiscal year on a quarterly basis on the following schedule: at least 25 percent by September 30, at least 50 percent by December 31, at least 75 percent by March 31, and at least 100 percent by June 30. The State-administered defined benefit retirement systems are the Teachers' Pension and Annuity Fund, the Judicial Retirement System, the Prison Officers' Pension Fund, the Public Employees' Retirement System, the Consolidated Police and Firemen's Pension Fund, the Police and Firemen's Retirement System, and the State Police Retirement System. The quarterly payment requirement will commence in State fiscal year 2018, which starts July 1, 2017.
Substituted by another Bill
Substituted by S2810  (on 11/21/2016)
 
 
Date Chamber Action Description
11/21/2016 A Substituted by S2810
11/21/2016 A Introduced, 1st Reading without Reference, 2nd Reading
Date Motion Yea Nay Other
None specified