{"data":{"id":"us-nj/n.j.-stat.-43-15a-16","jurisdiction":"us-nj","citation":"N.J. Stat. § 43:15A-16","heading":"Classification of members","body":"The retirement system shall classify the members in such groups by age as it  may determine for actuarial purposes.\nThe system shall further classify the membership by benefit rates as Class A  or Class B members, as follows:\n\"Class A\"  shall include those members whose annuity shall be based on a per centum of salary, computed to be sufficient, with regular interest, to procure for the member, on retirement for service, an annuity equal to 1/140 of his final compensation for each year of service as a member.\n\"Class B\"  shall include those members who have elected or who shall hereafter elect to contribute to the annuity savings fund at a higher rate per centum, computed to be sufficient, with regular interest, to procure for the member, on retirement for service, an annuity equal to   1/120   of his final compensation for each year of service as a member.\nAny new member after the effective date of this section shall be placed in \"Class B.\"\nL.1954, c. 84, p. 484, s. 16.  Amended by L.1954, c. 244, p. 893, s. 2; L.1979, c. 106, s. 1, eff. July 1, 1979.","path":["TITLE 43 PENSIONS AND RETIREMENT AND UNEMPLOYMENT \t\t\tCOMPENSATION"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"93db8d3db91c45c4de7fc18bad6e045e04f28ae2d8d134dba7ba5f0154c72cc4","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-43-15a-15","next":"us-nj/n.j.-stat.-43-15a-16.1"},"notice":"GroundRules: Original legal text. Not legal advice."}