N.J. Stat. § 43:4B-1
There is hereby established the Retirement Systems Actuary Selection Committee which shall consist of the State Treasurer, and the directors of the Divisions of Pensions and Benefits and Investment, and Office of Management and Budget, or their designated representatives, and one member designated by each of the boards of trustees of the Public Employees' Retirement System established pursuant to P.L. 1954, c.84 (C.43:15A-1 et seq.) and the Teachers' Pension and Annuity Fund established pursuant to N.J.S. 18A:66-1 et seq. The committee shall select the actuary or actuaries for the State retirement systems in accordance with the provisions of P.L. 1954, c.48 (C.52:34-6 et seq.), provided, however, that the boards shall have the power to veto the selection of the actuary for valid reason.
N.J.S. § 43:4B-1