New Jersey § 18a:66-174

§ 18a:66-174.

(a) Rutgers, The State University and the New Jersey Institute of Technology shall

reduce the compensation of each participant in the alternate benefit program and pay

over to the insurers or mutual fund companies for the benefit of the participant an

employee contribution for the retirement annuity contract or contracts equal to 5%

of the participant's base salary. The intervals for deductions or reductions and payments shall be determined by the

respective school governing bodies. The Division of Pensions and Benefits shall provide for reductions from the compensation

of each participant in the alternate benefit program employed by the State and county

colleges of an employee contribution equal to 5% of the participant's base salary

and pay this amount to the insurers or mutual fund companies for the individual's

retirement annuity contract or contracts. The intervals for deductions or reductions and payments shall be determined by the

Division of Pensions and Benefits. The Division of Pensions and Benefits may require that all participant contributions

be made in accordance with section 414(h) of the federal Internal Revenue Code ( 26 U.S.C. s.414(h) ). (b) Based on a certification to the Division of Pensions and Benefits by Rutgers,

The State University, the New Jersey Institute of Technology, Rowan University, Montclair State University , and Kean University of the number and base salary of participants, the division shall authorize the State

to make payment of the employer contributions to the alternate benefit program at

a rate equal to 8% of the employee's base salary, except the amount of the contribution

shall not exceed 8% of the maximum salary for department officers established pursuant

to section 1 of P.L.1974, c. 55 ( C.52:14-15.107 ), which moneys shall be paid to the designated insurers or mutual fund companies

for the benefit of each participant. Based on a certification by the Division of Pensions and Benefits of the number and

base salary of participants employed by the State and county colleges, the State shall

make payment of the employer contributions to the alternate benefit program at a rate

equal to 8% of the employee's base salary, except the amount of the contribution shall

not exceed 8% of the maximum salary for department officers established pursuant to

section 1 of P.L.1974, c. 55 ( C.52:14-15.107 ), which moneys shall be paid to the designated insurers or mutual fund companies

for the benefit of each participant. (c) For the member of the Public Employees' Retirement System employed by the county

colleges, who is defined in the regulations of the Division of Pensions and Benefits

as a full-time faculty member and who is permitted to transfer his membership and

does so, the State shall pay the employer contribution to the alternate benefit program

at a rate equal to 8% of the member's base salary, except the amount of the contribution

shall not exceed 8% of the maximum salary for department officers established pursuant

to section 1 of P.L.1974, c. 55 ( C.52:14-15.107 ). If the member continues membership in the Public Employees' Retirement System, the

State shall pay the employer contribution to the retirement system on his behalf and

such employer contribution shall be at a rate equal to the normal contribution made

by the State on behalf of nonveteran members of the Public Employees' Retirement System. (d) For any nonacademic employee of a county college, as defined in section 4 of P.L.1969,

c. 242 ( C.18A:66-170 ), who is eligible for the program according to the regulations of the Director of

the Division of Pensions and Benefits, the county college shall pay the employer contribution

to the retirement system on the employee's behalf in the same manner as the State,

pursuant to this section.