New Jersey § 43:13-37

§ 43:13-37.

There shall be established, in all towns in counties of the first class of this State

whose charter was granted between the years one thousand eight hundred and eighty

and one thousand eight hundred and ninety-nine and also still have a councilmanic

form of government and in which towns have established by referendum under subtitle

three, Title 11, 1 Civil Service, a pension fund. The said fund shall be administered by a commission of five members consisting of

the mayor of such town who shall be president of such pension fund commission, the

town treasurer of such town who shall be treasurer of such pension fund commission,

two municipal employees of such town who shall be nominated and elected at a meeting

to be held by the aforesaid town employees, which meeting shall be held at the call

of the mayor of the town within thirty days aforesaid. The town employees shall hold such office until their successors are nominated and

elected at a meeting of such employees to be held on the third Wednesday of the following

December, and thereafter two town employees shall be nominated and elected as members

of such pension fund commission in the same manner on the third Wednesday of December

every second year, and the terms of office of said members so to be elected by the

town employees shall be for two years commencing January first following their election. The fifth member of said commission shall be a citizen of the town who is not holding

any public office or position, shall be selected by the other four members of the

commission and shall hold office for the term of one year expiring on January first

each year. In case of vacancy for any cause the commission shall have power to fill such vacancy

until the next election. The said commission shall hold its annual meetings between the first and fifteenth

days of January in each year and elect such officers as it shall deem advisable for

the term of one year or until their successors are elected, and shall also have power

to select a secretary whose duties and compensation the commission shall have power

to fix and who shall serve for a period of one year or until his successor is appointed. The commission shall have the power to employ from time to time such clerical assistance

as it shall deem necessary and to purchase such office supplies and equipment as it

may deem necessary to carry out the provisions of this act 2 and to pay for the same out of the pension fund hereinafter provided for. The pension fund commission shall be known as “the town employees” pension fund

commission of the town of ․․․․․․․․․․․․․․ in the county of ․․․․․․․․․․․․․․․. 1

Now in Title 11A. 2

N.J.S.A. §§ 43:13-37.1 to 43:13-37.18.