New Jersey § 43:18-11

§ 43:18-11.

The pension fund shall be created and sustained as follows: a. There shall be deducted from every payment of salary to each employee not less

than four per cent and not more than six per cent of the amount thereof, as determined

by the board of trustees, if such employee entered such service on or before the age

of thirty-five years, and, if after such age, then such percentage shall be increased

to such an amount as shall be determined by the board of trustees to correspond to

the risk arising by the additional age of such employee. b. The city shall raise by taxation and pay into said fund yearly an amount equal

to four per cent of the total salaries paid to such employees. c. All fines, if any, imposed on any employee, all fines and penalties, collected

for the violation of any statute relating to the public health, or ordinance of the

board of health, and all moneys deducted from the salary of any such employee on account

of absence or loss of time. d. All moneys given or donated to such fund by any person or corporation in any manner

or form whatsoever. In case there shall not be sufficient money in the pension fund created as aforesaid,

the governing body shall include in any tax levy a sum sufficient to meet the requirements

of such fund for the time being. The board of trustees of any such pension corporation may assess and collect from

each and every employee of such board or department, who is a member of such pension

corporation the per cent of his annual salary, as shall be determined by the board

of trustees, to be paid semimonthly to the treasurer of such corporation, and such

assessment and collection shall be in manner and form as may be provided in the by-laws

of such corporation. The board of trustees is hereby empowered, in its judgment, to make it a condition

of membership that each member shall sign an order on the city treasurer, or other

disbursing officer, directing the retention of the amount of the assessment levied

hereunder, to be paid over directly to such corporation by retention from his salary

or wages, and the city treasurer or other disbursing officer is hereby directed to

make such retention and payment; but such retention and payment shall only become

operative in the event of the same being authorized by the by-laws of such corporation. The fund shall be under the control and management of the board of five trustees.