The employer shall bear the cost of the increase in the pensions payable to retirants who retired from the employ of such employer. The employer shall appropriate the amount, in the fiscal year next following, taking into account payments made to retirants of such employer and prospective payments to be made to such retirants in the following year.
N.J. Stat. Ann. § 43:8B-12
Cost of increase payable by employer
Known as the General Noncontributory Pension Act
The act spans §§ 43:8B-1 to 43:8B-9 (16 sections).
L.1971, c. 379, s. 4.
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.