Consolidated Police and Firemen's Pension Fund
This fund was established by P.L. 1952, c. 358, to place 212 local police and firemen pension funds on an actuarial basis. The membership consisted 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 Annotated, 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.
Prison Officer's Pension Fund
This fund was established under P.L. 1941, c. 20, and 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 non-contributory pension acts. No reserves are established for the payment of retirement benefits. These benefits are administered by the NJDPB in accordance with the governing statute and the rules and regulations of the State House Commission.
Related Videos - to see more videos, please refer to our video library