17:12B-55 - Death benefits
17:12B-55.Ā Death benefits
Where a plan or plans provide for death benefits, said death benefits shallĀ not exceed an amount equal to 100 times the monthly pension benefit providedĀ under the plan or plans, or the cash surrender value of any insurance orĀ annuity contracts as provided for under the plan or plans, whichever isĀ greater.Ā The provision for death benefits or for a period certain shall notĀ serve to reduce the maximum pension amount as set forth in this act.
L.1963, c. 144, s. 55.
Ā
Where a plan or plans provide for death benefits, said death benefits shallĀ not exceed an amount equal to 100 times the monthly pension benefit providedĀ under the plan or plans, or the cash surrender value of any insurance orĀ annuity contracts as provided for under the plan or plans, whichever isĀ greater.Ā The provision for death benefits or for a period certain shall notĀ serve to reduce the maximum pension amount as set forth in this act.
L.1963, c. 144, s. 55.
Ā
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