CLOSED RETIREMENT SYSTEMS

CONSOLIDATED POLICE AND FIREMEN'S PENSION FUND

This fund was established by Chapter 358, P.L. 1952, to place 212 local police and firemen pension funds on an actuarial basis. The membership consists of police and firemen appointed prior to July 1, 1944. The liabilities of these local funds were shared: two-thirds by the participating municipalities and one-third by the state. Statutes can be found in New Jersey Statutes Annnotated , Title 43, Chapter 16. Rules governing the operation and administration of the fund may be found in Title 17, Chapter 6 of the New Jersey Administrative Code.

PRISION OFICERS' PENSION FUND

This fund was established under Chapter 20, P.L. 1941. It was closed to new employees as of January 1960. New employees are enrolled in the Police and Firemen's Retirement System. This system is not maintained on an actuarial reserve basis. Statutes can be found in the New Jersey Statues Annotated, Title 43, Chapter 7.

CENTRAL PENSION FUND

This fund consists of the administration of a series of noncontributory pension acts. No reserves are established for the payment of retirement benefits. These benefits are administered by the Division in accordance with the governing statute and the rules and regulations of the State House Commission.

Last update: October 30, 2009