New Jersey § 18a:66-189
Full text of New Jersey New Jersey Statutes § 18a:66-189, with citation guidance and answers to common questions.
§ 18a:66-189.
The Division of Pensions and Benefits may, in its sole discretion, qualify the alternate
benefit program under section 401(a) or 403(a) of the federal Internal Revenue Code ( 26 U.S.C. § 401(a) , § 403(a) ). In such a case, all contributions to the retirement annuity contracts shall be made
as soon as the employee is eligible and has filed application forms required by the
annuity carrier. No employer contributions under these contracts shall be vested in the employee
until after the employee commences the second year of employment unless the employee,
at the time of initial employment, either (a) owns a retirement annuity contract or
contracts determined by the Division of Pensions and Benefits to be substantially
similar to the contracts to be purchased under the alternate benefit program and issued
by the designated insurers or mutual fund companies, or (b) is a member of another
State-administered retirement system. To the extent that any contributions required by this section would exceed the limits
established pursuant to section 415 of the Internal Revenue Code , the contributions shall not be made to a plan which has been qualified under sections 401(a) or 403(a) of the Internal Revenue Code . Instead, the excess contributions shall be made to a section 403(b) plan established by the State to the extent that those contributions would be permitted
to the plan in compliance with any provisions of the Internal Revenue Code and, in
the event that there are remaining contributions, they shall be made to a nonqualified
annuity plan established and maintained for this purpose. The participant shall be liable for any federal income taxes on contributions made
to this plan.
Frequently Asked Questions About New Jersey § 18a:66-189
What does New Jersey Statutes § 18a:66-189 cover?
Section 18a:66-189 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:66-189?
A common citation format is "New Jersey Statutes § 18a:66-189" (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:66-189 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.