43:7-18 - Prison Officers Pension Commission
43:7-18. Prison Officers Pension Commission
For the general administration and responsibility for the proper operation of this pension fund, there is hereby established a pension commission, which shall be known as the Prison Officers' Pension Commission. Said commission shall consist of the following members:
(a) The Treasurer of the State of New Jersey, ex officio;
(b) One member to be appointed by the Governor;
(c) Three prison officers who shall be from among the members of the pension fund;
(d) A citizen of the State who holds no office under such State, who shall be selected by the other 5 members of the commission and shall hold office for the term of 3 years.
All members of the commission shall hold office for 3 years commencing on July 1 and ending on June 30 in the third year thereafter, except that the members first appointed shall hold office from October 1, 1957 until June 30, 1960, and the first members elected shall be elected and hold office, 1 for a term commencing on October 1, 1957 and ending on June 30, 1958, 1 for a term commencing on October 1, 1957 and ending on June 30, 1959 and 1 for a term commencing on October 1, 1957 and ending on June 30, 1960. The terms of office of all members of the commission in office on the effective date of this act shall be terminated on September 30, 1957.
In case of a vacancy in the commission for any cause, the vacancy shall be filled for the unexpired term in the same manner as the office was previously filled.
The commission shall hold an annual meeting in July in each year and elect from its membership its president and such other officers as it deems advisable. The commission shall also, at such meeting select a secretary and appoint its finance committee.
Each member of the commission shall be entitled to 1 vote in the commission and a majority of all the votes for the entire commission shall be necessary for a decision by the commission at its meetings. The commission shall keep a record of all its proceedings, which shall be open to public inspection.
The members of the commission shall serve without compensation but shall be reimbursed for all necessary expenditures incurred through service on the commission. No State employee shall suffer loss of salary or wages through serving on the commission.
All retirements shall be made and pensions allowed under this act by this commission.
L.1941, c. 220, p. 634, s. 12. Amended by L.1957, c. 118, p. 493, s. 1.