New Jersey § 43:3b-5

§ 43:3b-5.

The adjustment in retirement allowances, pensions and survivorship benefits provided

for under this act and under section 6 of P.L.1969, c. 169 ( C. 43:3B-6 ) shall commence with retirement allowance, pension and survivorship benefit payments

for the month of January 1978, except as hereinafter specified, provided, that there

is appropriated the amount certified by the Director of the Division of Pensions to

the Director of the Division of Budget and Accounting as set forth in section 4 hereof. 1 In the case of any retirant or beneficiary first becoming eligible to receive an

adjustment under the provisions of section 6 of P.L.1969, c. 169 ( C. 43:3B-7 ), such adjustment shall be paid beginning in the 25th month in which he is entitled

to receive his retirement allowance pension or survivorship benefit. The adjustment in retirement allowances, pensions and survivorship benefits shall

continue to be paid as long as there shall be appropriated the amounts so certified. In the event that the necessary funds are not so appropriated, the adjustment in

retirement allowances, pensions and survivorship benefits shall cease; no further

payments shall be made by other employers; refunds shall be made by the Director

of the Division of Pensions to all employers of any balances unexpended on their account;

and charges shall be certified by the Director of the Division of Pensions to all

employers of any amounts which have been paid on behalf of the retirants and beneficiaries

of former employees of such employer for which funds have not been paid to the Division

of Pensions by the employer. In the event that any such charges are certified, provision for payment shall be

made by the employer in the budget for the ensuing fiscal year. 1

N.J.S.A. § 43:3B-4.