New Jersey § 43:8b-5

§ 43:8b-5.

The amount of pension granted under this act 1 shall be fixed by the employer according to uniform percentages of final average

salary applicable generally to all employees of such employer subject to the provisions

of this act, which percentages shall be adopted by resolution and shall not exceed: (a) 30% of the employee's final average salary, if he has been employed by the employer

for less than 20 years; or (b) 50% of the employee's final average salary, if he has been employed by the employer

for 20 years or more; provided, however, that in the case of an employee having 35

or more years of public employment and being age 65, or having 40 or more years of

public employment, the percentage shall not be less than 25% of his final average

salary. No employee shall be eligible for pension benefits based upon disability hereunder

unless he shall have at least five years of employment continuously, or in the aggregate,

with the employer. No employee shall be eligible for pension benefits other than benefits based upon

disability hereunder unless he shall have at least 15 years of employment continuously,

or in the aggregate, with the employer. 1

N.J.S.A. § 43:8B-1 et seq.