N.J. Admin. Code § 17:1-2.3

Current through Register Vol. 56, No. 23, December 2, 2024

Section 17:1-2.3 - Due dates for remittances and reports

(a) Monthly remittances for the Police and Firemen's Retirement System, Teachers' Pension and Annuity Fund and the Public Employees' Retirement System are to be transmitted through the electronic funds transfer system by the seventh day of the month following the close of the preceding month for which contributions are required.

(b) The biweekly report to the approved investment providers of the Alternate Benefit Program shall be due from the Centralized Payroll Unit to the Division no later than the pay date for each biweekly payroll period for which deductions or reductions were required. Remittance of contributions and related reports will be transmitted to investment providers no later than five business days following the corresponding biweekly payroll date.

(c) Deductions and reductions for Alternate Benefit Program participants of county and State colleges and universities will be transmitted to approved investment providers no later than five business days following the corresponding payroll date. County and State colleges and universities, which are prepaying the employer contributions on behalf of the State of New Jersey and have agreed to be fully accountable and responsible for the timely submission of such contributions shall submit a monthly report(s) to the Division by the 15th day of the month following the close of the preceding month detailing those prepayments in a format to be determined by the Director of the Division. County and State colleges and universities will be reimbursed for prepaid employer contributions in accordance with the prevailing statutes, within 15 business days of submitting all required reports in approved formats.

(d) Quarterly reports, including the remittance for the third month of the calendar quarter, for the Public Employees' Retirement System, Teachers' Pension and Annuity Fund, and the Police and Firemen's Retirement System are due in the Division the seventh day of the month following the close of the preceding quarter.

(e) Payroll deductions for pension, contributory insurance and the Supplemental Annuity Program and salary reductions for the Tax Sheltered Supplemental Annuity Program shall be remitted on a biweekly basis immediately following the payroll payment dates for State employees reported by the Centralized Payroll System.

(f) Monthly remittances for the State Health Benefits Program are due on the date indicated on the invoice. Reporting agencies will be considered in default if premiums are not paid on or before that date.

(g) Salary reductions under I.R.C. § 403(b), made on behalf of an employee, are to be transmitted through the electronic fund transfer system and credited within five business days from the pay date.

N.J. Admin. Code § 17:1-2.3

Amended by R.2009 d.25, effective 1/5/2009.
See: 40 N.J.R. 4928(a), 41 N.J.R. 277(a).
Section was "Due dates for transmittals and reports". In (a), deleted "and transmittal reports" following "remittances", and substituted "to be transmitted through the electronic funds transfer system by the seventh" for "due in the Division of Pensions and Benefits by the 10th"; rewrote (b) and (c); in (d), deleted "transmittals and" following "Quarterly" and "of Pensions and Benefits" following "Division" and substituted "seventh" for "10th"; and in (f), deleted "and transmittals" following "remittances" and substituted "on the date indicated on the invoice" for "the 15th day of each month" and "on or before that date" for "within 15 days following the due date for which premiums are required".