New Jersey § 46:2c-6

§ 46:2c-6.

A trust consisting in whole or in part of real property, or personal property, or

both heretofore or hereafter created by an employer as part of a pension plan, disability

or death benefit plan, profit-sharing plan or other plan for the exclusive benefit

of some or all of his employees, to which contributions are made by such employer

or employees, or both, for the purpose of distributing to such employees the earnings

or the principal, or both earnings and principal, of such trust, shall not be deemed

to be invalid as violating any existing law, statutory or otherwise, against perpetuities

or suspension of the power of alienation or against the accumulation of income; but

such a trust may continue for such time as may be necessary to accomplish the purposes

for which it may be created, and such trust may by its terms be made irrevocable,

and the interest of any beneficiary thereof may be made nontransferable.