N.J. Admin. Code § 17:5-3.8

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

Section 17:5-3.8 - Termination; withdrawal

(a) Under the terms of the statutes, a member may withdraw from the Retirement System only if the member terminates all employment. No application shall be approved if:

1. The member is on official leave of absence;

2. The member or employer certifies that employment has not ended or that the member has taken another position subject to coverage;

3. The member has been dismissed or suspended from employment. In this event, such a member will be eligible to withdraw if the member has formally resigned from the position and there is no legal action contemplated or pending and the dismissal has been adjudged final. If the member or employer does not advise the Division that there is an appeal and the withdrawal application is processed, the member must repay the Retirement System the full amount of contributions with interest before the account may be reinstated;

4. The member has a claim pending for Workers' Compensation benefits, unless the member signs a waiver indicating that the member still wishes to withdraw; or

5. The member has a pending retirement application, unless the member agrees to rescind such application.

N.J. Admin. Code § 17:5-3.8

Amended by 51 N.J.R. 1059(a), effective 6/17/2019