N.J. Admin. Code § 17:8-2.13

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

Section 17:8-2.13 - Beneficiary designation

(a) If the defined benefit retirement system in which the member participates provides for return of accumulated deductions upon the death of the member, the primary and contingent beneficiaries of active participants shall be the same for the trust, unless a separate designation of beneficiary form is filed with the trust. The original nomination of beneficiaries on file with the Supplemental Annuity Collective Trust will remain effective unless a subsequent designation of beneficiary form is filed with the Supplemental Annuity Collective Trust.

(b) In those retirement systems which do not provide for the return of accumulated deductions upon the death of a member, the participant may designate a primary and contingent beneficiary in the Supplemental Annuity Collective Trust on prescribed forms, or in the absence of such designation, his or her estate shall be so designated.

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