New Jersey § 43:15a-16
Full text of New Jersey New Jersey Statutes § 43:15a-16, with citation guidance and answers to common questions.
§ 43:15a-16.
The retirement system shall classify the members in such groups by age as it may determine
for actuarial purposes. The system shall further classify the membership by benefit rates as Class A or Class
B members, as follows: “Class A” shall include those members whose annuity shall be based on a per centum
of salary, computed to be sufficient, with regular interest, to procure for the member,
on retirement for service, an annuity equal to 1 / 140 of his final compensation for each year of service as a member. “Class B” shall include those members who have elected or who shall hereafter elect
to contribute to the annuity savings fund at a higher rate per centum, computed to
be sufficient, with regular interest, to procure for the member, on retirement for
service, an annuity equal to 1 / 120 of his final compensation for each year of service as a member. Any new member after the effective date of this section shall be placed in “Class
B.”
Frequently Asked Questions About New Jersey § 43:15a-16
What does New Jersey Statutes § 43:15a-16 cover?
Section 43:15a-16 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 § 43:15a-16?
A common citation format is "New Jersey Statutes § 43:15a-16" (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 § 43:15a-16 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.