43:16A-56 - Group insurance premium fund

43:16A-56.  Group insurance premium fund
    In the event the State Treasurer shall determine to purchase group insurance  coverage for the death benefits, premiums for the same shall be paid from a  special fund, hereby created, called the  "Group Insurance Premium Fund."   The  State Treasurer shall estimate annually the amount which will be required for  premiums for such benefits for the ensuing fiscal year and shall certify such  amounts to the participating employers as due and owing from them.  The  participating employers shall pay over to the State Treasurer the amount for  premiums so certified and the State Treasurer shall deposit these amounts in  the Group Insurance Premium Fund. During the period such group insurance  policy or policies are in effect with respect to members of the Police and  Firemen's Retirement System of New Jersey the State Treasurer shall in no way  commingle moneys in this fund with any pension fund established by chapter 255  of the laws of 1944.

     L.1964, c. 241, s. 23, eff. Jan. 1, 1965.  Amended by L.1967, c. 250, s. 20, eff. Dec. 18, 1967.