N.J.S.A. 43:3C-5 — Agreement for direct deposit of monthly payment for retirant or beneficiary

43:3C-5. Agreement for direct deposit of monthly payment for retirant or beneficiary Any law, rule or regulation to the contrary notwithstanding, the Division of Pensions shall honor an agreement executed between a retirant or beneficiary of any retirement system established pursuant to the laws of this State and a depository institution for the direct deposit in the depository institution of the monthly payment of the retirement allowance of the retirant or beneficiary; provided, however, that the depository institution assumes the full responsibility for the receipt and collection of the monthly payment, and, provided further that the agreement is consummated pursuant to such rules and regulations as shall be promulgated by the Division of Pensions. L.1981, c. 213, s. 2, eff. July 20, 1981.

This is the verbatim text of N.J.S.A. 43:3C-5, 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.