New Jersey § 43:8a-13

§ 43:8a-13.

(1) Within 6 months after January 1, 1954 or after the effective date of membership,

whichever date is later, each member shall have the right to select additional death

benefit coverage. (2) Upon the receipt of proper proof of the death in service of a member selecting

coverage under this section, on account of which no accidental death benefit is payable

under section 9 of this act, 1 there shall be paid to such person, if living, as he shall have nominated by written

designation duly executed and filed with the board of trustees, otherwise to the executor,

or administrator of the member's estate, the sum of $5,000.00. (3) Each member selecting the additional death benefit coverage under this section

shall agree to the deduction of a percentage of his compensation in addition to that

required under section 18. 2 The actuary of the pension fund shall determine the constant percentage of contribution

which if deducted from each payment of the prospective earnable compensation throughout

active service of each member selecting coverage under this section, is computed to

be sufficient to provide for all benefits of this section. (4) The percentage rate of contribution payable by members selecting coverage under

this section shall be subject to adjustment from time to time by the board of trustees

on the basis of annual actuarial valuations and experience investigations as provided

under section 5 3 so that the value of future contributions of members selecting the additional death

benefit coverage under this section shall be equal to the value of prospective benefit

payments. (5) All other provisions of this section notwithstanding, this section and the benefits

extended under this section shall not come into effect until 75% of the total number

of members as of October 1, 1954 shall have applied for the additional death benefit

coverage under this section. Such application shall be made with the secretary of the board of trustees, in such

a manner and upon such forms as the board of trustees shall provide. (6) Any other provision of this act 4 notwithstanding, the additional contributions of members selecting the additional

death benefit coverage under this section shall not be returnable to the member or

his beneficiary in any manner or for any reason whatsoever nor shall such contributions

be included in any annuity payable to any such member or his beneficiary. 1

N.J.S.A. § 43:8A-9. 2

N.J.S.A. § 43:8A-18. 3

N.J.S.A. § 43:8A-5. 4

N.J.S.A. §§ 43:8A-1 to 43:8A-25.