N.J.S.A. 43:3C-19 — Member fully vested in accumulated contributions.

43:3C-19 Member fully vested in accumulated contributions. 61. a. A member shall be fully vested in his or her accumulated contributions at all times. b. A member shall be fully vested in his or her service retirement benefit upon the attainment of normal retirement age under the retirement system and the completion of any required years of service. Normal retirement age means the age established by regulation consistent with statute. c. In conformity with section 401(a)(8) of the federal Internal Revenue Code (26 U.S.C. s.401(a)(8)), any forfeitures of benefits by members or former members of the plan shall not be applied to increase the benefits any member would otherwise receive under the plan. L.2011, c.78, s.61.

This is the verbatim text of N.J.S.A. 43:3C-19, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.