New Jersey § 43:6a-17

§ 43:6a-17.

a. Each member of the retirement system on the effective date of any insurance contract or program approved by the State House Commission will be eligible to purchase the additional death benefit coverage hereinafter described,

provided the member selects such coverage within 90 days after that effective date . b. A person becoming a member of the retirement system after the effective date of any insurance contract or program approved by the State House Commission who on the date of becoming a member is less than 60 years of age shall automatically

be covered for such additional death benefit coverage from the first day of membership

on which the person is actively at work and performing all regular duties at the customary

place of employment. Such automatic coverage shall continue during the member's first year of membership,

and during that year the member shall make contributions as fixed by the retirement

system. Additional death benefit coverage for the member shall continue in effect after

the first year of membership on the continuance of payment of the required contributions

therefor. c. A person becoming a member of the retirement system after the effective date of any insurance contract or program approved by the State House Commission who on the date of becoming a member is 60 or more years of age may, within one year

from the date of membership, elect to purchase such additional death benefit coverage,

provided that the member furnishes satisfactory evidence of insurability and on the

date of such election is actively at work and performing all regular duties at the

customary place of employment. d. Notwithstanding other provisions of this section relating to the amount of death

benefit applicable to a member who has acquired or shall acquire additional death

benefit coverage, the death benefit payable in the event of death occurring on or

after the effective date of any insurance contract or program approved by the State House Commission and during the first year of membership shall be based upon the member's annual base

salary. The effective date of coverage of any person electing to purchase additional death

benefit coverage pursuant to the provisions of subsection a. or c. of this section

shall be the first day of the month immediately following the date of such election

unless evidence of insurability is required as a condition of such election in which

event the effective date of coverage shall be the first day of the month which immediately

follows the later of (1) the date of such election, or (2) the date such evidence

is determined to be satisfactory. e. The State House Commission shall establish schedules of contributions to be made

by the members who elect to purchase the additional death benefit coverage. Such contributions shall be so computed that the contributions made by or on behalf

of all covered members in the aggregate shall be sufficient to provide for the cost

of the benefits provided under this section. Such schedules of contributions shall be subject to adjustment from time to time

by the commission, as the need may appear. f. Upon the receipt of proper proofs of the death in service of any such member while

covered for the additional death benefit coverage there shall be paid to such person,

if living, as the member shall have nominated by written designation duly executed

and filed with the retirement system, otherwise to the executor or administrator of

the member's estate, an amount equal to one and one-half times the compensation received

by the member in the last year of creditable service or some lesser or greater amount as may be provided by the insurance contract or program . g. The contributions of a member for the additional death benefit coverage shall be

deducted from the member's compensation, but if there is no compensation from which

such contributions may be deducted it shall be the obligation of the member to make

such contributions directly to the retirement system or as directed by the State House

Commission. h. Any other provision of P.L.1973, c. 140 ( C.43:6A-1 et seq. ) notwithstanding, the contributions of a member for the additional death benefit

coverage under this section shall not be returnable to the member or the member's

beneficiary in any manner, or for any reason whatsoever, nor shall any contributions

made for the additional death benefit coverage be included in any annuity payable

to any such member or beneficiary. i. A member who has elected to purchase the additional death benefit coverage provided

by this section may file with the retirement system, and alter from time to time during

the member's lifetime as desired, a duly attested nomination of the payee of the death

benefit provided under this section. Such member may also file with the retirement system, and alter from time to time

during the member's lifetime as desired, a request directing payment of said benefit

in one sum or in equal annual installments over a period of years or as a life annuity. Any such nomination or request shall be made in writing on a form satisfactory to

the retirement system and shall be effective upon receipt by the retirement system. Upon the death of such member, a beneficiary to whom a benefit is payable in one

sum may elect to receive the amount payable in equal annual installments over a period

of years or as a life annuity. If more than one beneficiary is nominated and the member has not specified their

respective interests, the beneficiaries shall share equally. If any beneficiary predeceases the member, the interest of that beneficiary shall

terminate and shall be shared equally by such of the beneficiaries as survive the

member unless the member has made written request to the contrary in the beneficiary

nomination. Any amounts due for which there is no beneficiary at the death of the member or

beneficiary shall be payable to the estate of the member or beneficiary. j. All other provisions of this section notwithstanding, this section and the benefits

provided under this section shall not come into effect until a required percentage

of the members shall have applied for the additional death benefit coverage under

this section. This required percentage shall be fixed by the State House Commission. Applications for such additional death benefit coverage shall be submitted to the

secretary of the commission , or such other person as the commission may designate, in such manner and upon such forms as the commission shall provide. The benefits, rights and options of members and their beneficiaries shall be limited

to and governed by the provisions of any insurance contract or program approved by

the commission, subject to the provisions of this section.