{"data":{"id":"us-nj/n.j.-stat.-43-15a-48","jurisdiction":"us-nj","citation":"N.J. Stat. § 43:15A-48","heading":"Retirement allowance for service.","body":"48.\tA member, upon retirement for service, shall receive a retirement allowance consisting of:\na.\tAn annuity which shall be the actuarial equivalent of his accumulated deductions together with regular interest; and\nb.\tA pension in the amount which, when added to the member's annuity, will provide a total retirement allowance of 1/64 of final compensation for each year of service credited as Class A service and 1/55 of final compensation for each year of service credited as Class B service, or for a person who becomes a member of the retirement system on or after the effective date of P.L.2010, c.1 1/60 of final compensation for each year of service credited as Class B service.\nc.\tUpon the receipt of proper proofs of the death of a member who has retired on a service retirement allowance, there shall be paid to the member's beneficiary, an amount equal to 3/16 of the compensation upon which contributions by the member to the annuity savings fund were based in the last year of creditable service.\nL.1954, c.84, s.48; amended 1955, c.261, s.14; 1971, c.213, s.22; 2001, c.133, s.13; 2010, c.1, s.13.","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":"ae482c18dda8f38f368f6e4da80d8dc788c1ec8c4adcdfcf4462e86063d50f3e","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-43-15a-47.3","next":"us-nj/n.j.-stat.-43-15a-49"},"notice":"GroundRules: Original legal text. Not legal advice."}