New Jersey § 52:18a-119
Full text of New Jersey New Jersey Statutes § 52:18a-119, with citation guidance and answers to common questions.
§ 52:18a-119.
The Fixed Division shall consist of the following accounts: a. The Fixed Accumulation Account shall be the account to which contributions of participants
in the Fixed Division are credited. An individual account shall be maintained in the Fixed Accumulation Account for
each participant in the Fixed Division. b. The Fixed Benefit Account shall be the account from which fixed benefits are paid. Upon retirement of a participant in the Fixed Division, his account in the Fixed
Accumulation Account shall be transferred to the Fixed Benefit Account. c. The Fixed Reserve Account shall be the account to which all investment earnings
or losses of the Fixed Division shall be credited or charged. Such investment earnings or losses shall be determined as of the end of each fiscal
year in accordance with accepted accounting practices. Interest bearing investments shall be valued so that the yield to maturity will
remain uniform. Earnings shall include profits or losses on the sale of investments, but no adjustment
in the book value of investments shall be made by reason of fluctuations in current
market prices. Mortality adjustments of the Fixed Benefit Account, determined in accordance with
rules and regulations adopted by the council with the advice of the actuary, shall
be charged or credited to this Fixed Reserve Account. This account shall also be charged with the amount of interest required to be credited
to the Fixed Benefit Account and with the interest to be credited to the individual
accounts in the Fixed Accumulation Account. The interest to be credited to the individual accounts in the Fixed Accumulation
Account shall be at rates established by the council from time to time and shall be
credited on the basis of balances in such accounts at the beginning of the fiscal
year.
Frequently Asked Questions About New Jersey § 52:18a-119
What does New Jersey Statutes § 52:18a-119 cover?
Section 52:18a-119 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 § 52:18a-119?
A common citation format is "New Jersey Statutes § 52:18a-119" (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 § 52:18a-119 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.