New Jersey § 18a:66-172
Full text of New Jersey New Jersey Statutes § 18a:66-172, with citation guidance and answers to common questions.
§ 18a:66-172.
Participants in the alternate benefit program shall be allowed to allocate portions
of their own contributions and the contributions of their employer, including amounts
used by the employer to purchase an annuity pursuant to a salary reduction agreement
under section 24 of P.L.1969, c. 242 ( C. 18A:66-190 ), to accounts with two or more insurers or mutual fund companies designated pursuant
to the provisions of section 3 of P.L.1993, c. 385 ( C. 18A:66-172.1 ) as companies from which alternate benefit contracts may be purchased, and shall,
subject to such rules and regulations as the Division of Pensions may adopt, be permitted
to direct the withdrawal of such contributions from their account with one such company
for deposit in an account with another such company. Since the establishment of the alternate benefit programs for the several public
institutions of higher education in New Jersey is designed to provide mobility of
pension credit from within the academic community in and outside the State, and since
it is imperative that eligibility for participation in this program be of uniform
application in the several schools, it shall be the responsibility of the Director of the Division of Pensions to establish regulations which shall provide for such uniformity.
Frequently Asked Questions About New Jersey § 18a:66-172
What does New Jersey Statutes § 18a:66-172 cover?
Section 18a:66-172 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 18a:66-172?
A common citation format is "New Jersey Statutes § 18a:66-172" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 18a:66-172 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.