New Jersey S4507 allows the Director of the Division of Pensions and Benefits to transfer funds temporarily to cover health benefits for active.
New Jersey S4507 permits the Director of the Division of Pensions and Benefits to initiate a temporary transfer of funds from the health benefits fund for qualified local education retirees and their dependents to the fund for active education employees and their dependents. This transfer is allowed if the available funds in the latter fund are insufficient to cover 10 days of anticipated payments. The transferred amount must not exceed what is necessary to cover 30 days of anticipated payments from the fund.
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