N.J. Stat. § 17:12B-57: Submission of pension plan for approval of commissioner

Every pension plan adopted or altered for a State association shall before it is placed in operation, be submitted to the commissioner for his approval. The commissioner shall approve such plan or alterations thereof unless he shall find:

(a) it does not conform to law, or

(b) its adoption or alteration would be hazardous to the State association, or

(c) its provisions are unfair or inequitable.

L.1963, c. 144, s. 57.