2020 New Jersey Revised Statutes
Title 43 - Pensions and Retirement and Unemployment Compensation
Section 43:5-4 - Amount of pension
43:5-4. Amount of pension
An employee so retiring shall, during his disability and for his natural life, be paid an annual salary or compensation, commencing with the date of the filing of his resignation, at the rate of one-half of the average annual salary and wage he received for the two years prior to the time of the filing. Compensation to the extent of one-half of any fee for enrollment services which the person to be pensioned might be capable of earning in the maximum at retirement for such salary, wage or one-half of compensation which beneficiary shall have been in receipt of aforesaid shall be paid by the state treasurer in the same manner and at the same time as other salaries or compensation are paid to those in the state's employ, out of the appropriation account for salaries and wages or enrollment fees of the department or branch of service in which the person shall have been employed. Provision shall be made in such account for the purpose to the extent authorized by this chapter.
