2018 New Jersey Revised Statutes
Title 43 - PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION
Chapter 13 - Filling vacancies in trustees of certain trust funds; resignation of trustees
Section 43:13-22.59 - Fund and contributions thereto
Section: 43:13-22.59: Fund and contributions thereto
Fund and contributions thereto.
For the purpose of paying pensions pursuant to this act, a trust fund shall be and is hereby created and maintained in each city as defined in this act, as follows:
(a) In the case of a member who on the effective date of this act was a member of the pension fund in effect in said city under and by virtue of article 2, chapter 13, Title 43 of the Revised Statutes, there shall be deducted from every payment of salary to said member during the entire period of his membership subsequent to the effective date of this act and paid into the fund, the percentage of his salary applicable to his age at the time of his appointment, as follows:
\% Rate of
Age at Appointment Contribution
Not exceeding 35 years .............................. 6\%
Between 35 and 36 years ............................. 6 1/2
Between 36 and 37 years ............................ 7
Between 37 and 38 years ............................. 7 1/2
Between 38 and 39 years ............................. 8
39 and over ................................ 8 1/2
(b) In the case of a member not included in (a) above, there shall be deducted from every payment of salary to said member during the entire period of his membership and paid into the fund the percentage of his salary applicable to his age at the time of his entrance into membership. These percentages shall be as follows:
Age at Entrance \% Rate of Contribution
