40:37-160 - Additional annual payment to fund
40:37-160. Additional annual payment to fund
On January 1 each year there shall also be added to the fund such sum as the commission shall determine, on the basis of actuarial surveys made as of January 1, 1956, and of every third year thereafter, will be sufficient, if added annually, for a period of 30 years from January 1, 1956, to the contributions and assessments of the members of the fund and to all other sums included in and payable to the fund, to liquidate the liabilities of the fund, which sum so determined upon shall annually be certified by the commission to the board of chosen freeholders of the county and shall be appropriated and made available by said board to the commission and which sums shall be held and applied by the commission for the purposes aforesaid.
Amended by L.1951, c. 324, p. 1160, s. 3; L.1955, c. 195, p. 770, s. 2, eff. Aug. 4, 1955.