N.J. Admin. Code § 5:30-14.13

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

Section 5:30-14.13 - Pre-existing LOSAP programs

(a) Benefit programs, such as annuities, which are similar to LOSAPs and which were offered to members of volunteer emergency service organizations prior to enactment of 40A:14-183 et seq. (January 19, 1998), may be continued subject to the following requirements:

1. Participants of pre-existing benefits programs who were vested at a level in excess of $ 750.00 per month as of January 19, 1998, may continue to receive benefits at that level.

2. Participants of pre-existing benefit programs who vest after January 19, 1998, shall not receive a benefit in excess of $ 750.00 per month, except that the level may be adjusted annually pursuant to 40A:14-185(f) and 5:30-14.9.

N.J. Admin. Code § 5:30-14.13