The accrued liability contribution of any public employer adopting the retirement system after July 1, 1971 for the purpose of providing prior service credit for the service rendered prior to July 1, 1966, shall be payable by the employer to the contingent reserve fund over a period of not less than 25 years following the initial valuation of such liability by the actuary of the retirement system.
N.J. Stat. Ann. § 43:15A-68.1
Accrued liability contribution of public employer adopting system after July 1, 1971; payment
Known as the Public Employees' Retirement System Act
The act spans §§ 43:15A-1 to 43:15A-99 (202 sections).
L.1971, c. 213, s. 49, eff
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.