N.J.S.A. 53:5A-41 — Inapplicability of other provisions; necessity for creation of reserves

53:5A-41. Inapplicability of other provisions; necessity for creation of reserves a. No other provision of the law in any other statute which provides wholly or partly at the expense of the State of New Jersey for pensions or retirement benefits for members of this system and for beneficiaries shall apply to such members or beneficiaries. b. Notwithstanding anything to the contrary, the retirement system shall not be liable for the payment of any pensions or other benefits to any member or beneficiary for which reserves have not been previously created from funds contributed by the members or the State for such benefits. L.1965, c. 89, s. 41, eff. July 1, 1965.

This is the verbatim text of N.J.S.A. 53:5A-41, 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.