N.J. Admin. Code § 17:10-5.3

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

Section 17:10-5.3 - Effective date; changes

(a) A member shall have the right to withdraw, cancel or change an application for retirement at any time before the member's pension becomes due and payable by sending a written request signed by the member. Thereafter, the retirement shall stand as approved by the Commission. A member's retirement allowance shall not become due and payable until 30 days after the date of retirement.

(b) Except in the event of deferred retirement, if a member requests a change of retirement date or option selection before the member's pension becomes due and payable, said change will require approval of the Commission and the revised pension shall not become due and payable until one month has elapsed following the effective date.

(c) A deferred retirement shall become effective on the first of the month following the member's 60th birthday. At the election of the member, if the member's 60th birthday falls on the first of a month, the retirement shall become effective on that date, provided the member files a timely retirement application pursuant to 43:6A-11. In the case of deferred retirement, if an applicant desires to amend the retirement application, the amended application must be filed with the Division of Pensions and Benefits a minimum of one month prior to the effective date of retirement.

(d) Should the member continue to receive a salary beyond the effective date of retirement, no retirement benefits shall be paid for the period where the member received salary and no salary or service credit shall be approved for the service rendered salary and no salary or service credit shall be provided for the service rendered after the effective date of retirement.

N.J. Admin. Code § 17:10-5.3

As amended, R.1976 d.304, effective 9/30/1976.
See: 8 New Jersey Register 86(a), 8 New Jersey Register 538(c).
As amended, R.1981 d.244, effective 7/9/1981.
See: 13 New Jersey Register 331(a), 13 New Jersey Register 462(b).
(c) added.
As amended, R.1983 d.212, effective 6/20/1983.
See: 14 New Jersey Register 1296(b), 15 New Jersey Register 1038(a).
Subsection (d) added.
Amended by R.2003 d.296, effective 7/21/2003.
See: 35 New Jersey Register 388(a), 35 New Jersey Register 3381(a).
Rewrote (a); added new (b); recodified current (b) through (d) as (c) through (e).