N.J. Admin. Code § 17:4A-20.1

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

Section 17:4A-20.1 - Permissible investments

(a) Subject to the limitations in this subchapter, the Board may invest and reinvest PFRSNJ-managed fund assets in futures contracts, provided that the futures contracts trade on a securities exchange or the over-the-counter market.

(b) The Board may deliver securities to satisfy contractual obligations pursuant to the Board's purchase and sale of a futures contract.

(c) Notwithstanding the restrictions in this subchapter, the Board may authorize the purchase of futures contracts on a case-by-case basis if the Board determines such purchase to be in the financial best interest of the PFRSNJ and its beneficiaries and is consistent with the Board's fiduciary responsibility.

N.J. Admin. Code § 17:4A-20.1

Adopted by 53 N.J.R. 1147(a), effective 7/6/2021

Recodified from 17:4A-20.2 by 56 N.J.R. 795(a) effective 5/6/2024