N.J. Admin. Code § 17:8-2.12

Current through Register Vol. 56, No. 23, December 2, 2024
Section 17:8-2.12 - Redeposit and reinstatement

If a participant's withdrawal or retirement from the Supplemental Annuity Collective Trust has been processed and a check has been issued to him or her covering the value of his or her account in the Supplemental Annuity Collective Trust and he or she subsequently cancels his or her withdrawal or retirement application from the defined benefit retirement system in which the member participates, his or her supplemental annuity account may be reinstated by the redeposit of the funds withdrawn within 15 days after such cancellation. In this event, the amount redeposited shall be converted into equity units on the basis of the value of an equity unit as of the end of the month of redeposit. If a timely redeposit is not made, the employee may reenroll as a new participant at the beginning of any calendar quarter.

N.J. Admin. Code § 17:8-2.12

Amended by 53 N.J.R. 1921(b), effective 11/15/2021