New Jersey § 43:23-16
Full text of New Jersey New Jersey Statutes § 43:23-16, with citation guidance and answers to common questions.
§ 43:23-16.
a. The New Jersey Secure Choice Savings Program Fund is established as a special fund
outside of the General Fund, separate and apart from all public moneys or funds of
this State, with the board established pursuant to section 6 of this act 1 as its trustee. The fund shall include the individual retirement accounts of enrollees, which shall
be accounted for as individual accounts. Moneys in the fund shall consist of moneys received from enrollees directly and
through participating employers pursuant to automatic payroll deductions and contributions
to savings made pursuant this act. The fund shall be operated in a manner determined by the board, provided that the
fund is operated so that the accounts of enrollees established under the program meet
the requirements for IRAs under the Internal Revenue Code. b. The amounts deposited in the fund shall not constitute property of the State and
the fund shall not be construed to be a department, institution, or agency of the
State. Amounts on deposit in the fund shall not be commingled with State funds and the
State shall have no claim to or against, or interest in, such funds. 1
L.2019, c. 56 (N.J.S.A. § 43:23-18).
Frequently Asked Questions About New Jersey § 43:23-16
What does New Jersey Statutes § 43:23-16 cover?
Section 43:23-16 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 § 43:23-16?
A common citation format is "New Jersey Statutes § 43:23-16" (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 § 43:23-16 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.