New Jersey § 43:11a-2

§ 43:11a-2.

Upon his retirement from Port Authority service, a former municipal employee shall

be paid a New Jersey pension under, pursuant to and in accordance with the terms of

the applicable New Jersey pension act as the same was in effect at the time he left

the municipal service, or as such act may hereafter be amended or supplemented, such

pension to be paid from the same source and in the same manner as though he had remained

in the municipal service until he became entitled to a pension under the applicable

New Jersey pension act, and such New Jersey pension to be computed as follows: (a) Where, if he had remained in the municipal service, the employee would have been

required to complete twenty years of municipal service in order to qualify for a pension,

his New Jersey pension shall be five per centum (5%) of one-half of the annual salary

from the municipality at the time of termination of his municipal employment, multiplied

by the number of years of his municipal service, not exceeding twenty years; (b) Where, if he had remained in the employ of the municipality, the employee would

have been required to complete twenty-five years of municipal service in order to

qualify for a pension, his New Jersey pension shall be four per centum (4%) of one-half

of the annual salary from the municipality at the time of termination of his municipal

employment, multiplied by the number of years of his municipal service, not exceeding

twenty-five years; (c) Where, if he had remained in the employ of the municipality, the employee would

have been required to complete forty years of municipal service in order to qualify

for a pension, his New Jersey pension shall be two and one-half per centum (2 1 / 2 %) of one-half of the annual salary from the municipality at the time of termination

of his municipal employment, multiplied by the number of years of his municipal service,

not exceeding forty years; Provided, that the formulae above set forth in subparagraphs (a), (b) or (c) shall be adjusted

to meet any amendment or supplement to any applicable New Jersey pension act, as hereinbefore

defined in section one, subdivision (f); 1 and Provided, further, that if the payments required to be made under and pursuant to the foregoing subparagraphs

(a), (b) or (c) plus the New York retirement allowance shall exceed one-half of the

employee's final average salary, then the New Jersey pension shall be reduced by the

amount of such excess. 1

N.J.S.A. § 43:11A-1(f).