State Codes and Statutes

Statutes > New-jersey > Title-53 > Section-53-5a > 53-5a-19

53:5A-19.  Payment of premiums from 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. The State shall pay  over to the State Treasurer the amount so required who shall deposit it in the  Group Insurance Premium Fund.  During the period such group insurance policy or  policies are in effect the State Treasurer shall in no way commingle moneys in  this fund with any pension fund established by this act.

     L.1965, c. 89, s. 19, eff. July 1, 1965.  Amended by L.1966, c. 153, s. 10, eff. June 18, 1966.