New Jersey S2009 mandates boards of education with at least 1,000 students to choose at least three financial institutions or pension management.

New Jersey S2009 requires boards of education in school districts with at least 1,000 students offering 403(b) plans to select a minimum of three financial institutions or pension management organizations. If fewer than three are available, the board must select all available providers. These organizations must provide necessary data electronically for plan administration and disclose fees, charges, and payments. The board is not responsible for investment losses or returns.

New Jersey S2009 mandates boards of education with at least 1,000 students to choose at least three financial institutions or pension management.

New Jersey S2009 requires boards of education in school districts with at least 1,000 students offering 403(b) plans to select a minimum of three financial institutions or pension management organizations. If fewer than three are available, the board must select all available providers. These organizations must provide necessary data electronically for plan administration and disclose fees, charges, and payments. The board is not responsible for investment losses or returns.