40:37-159 - Source of pension fund; assessment of members of force
40:37-159. Source of pension fund; assessment of members of force
The commission shall monthly pay to the treasurer of the fund all moneys collected in payment of fines imposed upon members of the police force, who are members of said fund, and all moneys deducted or withheld from the pay of members of the police force, who are members of said fund, by reason of absence from duty from any cause. These moneys shall constitute part of the police pension or retirement fund. There shall be added to the fund any moneys from time to time donated to the purpose, and all moneys derived from the sale of unclaimed goods or property coming into the possession of the park police.
There shall also be added the moneys collected by subscription or assessment from or upon the members of the park police force or department, which subscription or assessment shall be 5% per annum of the annual salary of every member of the force or department, who is a member of said fund, in order to entitle him to the benefits of the pension or retirement fund as hereinafter provided. The assessments shall be collected from each periodic payment of the salary of each such member of the force.
Amended by L.1951, c. 324, p. 1159, s. 2; L.1955, c. 195, p. 770, s. 1, eff. Aug. 4, 1955.