employees of a local school district....

A4133 GREENWALD, O'SCANLON
25
employees of a local school district, 1 regional school district,
2 county vocational school district, county special services school
3 district, jointure commission, educational services commission,
4 State-operated school district, charter school, county college, any
5 officer, board, or commission under the authority of the
6 Commissioner of Education or of the State Board of Education, and
7 any other public entity which is established pursuant to authority
8 provided by Title 18A of the New Jersey Statutes; or
9 employees of a State public institution of higher education, other
10 than employees of the University of Medicine and Dentistry of New
11 Jersey shall contribute 5.5% of compensation to the system, and all
12 such members described above enrolled in the system prior to July
13 1, 2007 shall contribute 5.5% of compensation to the system
14 effective with the payroll period for which the beginning date is
15 closest to July 1, 2007.
16 Members enrolled in the retirement system on or after July 1,
17 2008, other than those described in the paragraph above, shall
18 contribute 5.5% of compensation to the system. Members enrolled
19 in the system prior to July 1, 2008, other than those described in the
20 paragraph above, shall contribute 5.5% of compensation to the
21 system effective with the payroll period that begins immediately
22 after July 1, 2008.
23 (3) Members of the retirement system shall contribute 6.5% of
24 compensation to the system on and after the effective date of P.L. ,
25 c. (pending before the Legislature as this bill), with an additional
26 contribution of 1% to be phased-in in equal increments over a
27 period of seven years commencing with the first year following that
28 effective date.
29 c. The retirement system shall certify to each State department
30 or subdivision thereof, and to each branch of the State service not
31 included in a State department, and to every other employer, the
32 proportion of each member's compensation to be deducted and to
33 facilitate the making of deductions the retirement system may
34 modify the deduction required by a member by such an amount as
35 shall not exceed 1/10 of 1% of the compensation upon the basis of
36 which the deduction is to be made.
37 If payment in full, representing the monthly or biweekly
38 transmittal and report of salary deductions, is not made within 15
39 days of the due date established by the retirement system, interest at
40 the rate of 6% per annum shall commence to run against the total
41 transmittal of salary deductions for the period on the first day after
42 such fifteenth day.
43 d. Every employee to whom this act applies shall be deemed to
44 consent and agree to any deduction from his compensation required
45 by this act and to all other provisions of this act. Notwithstanding
46 any other law, rule or regulation affecting the salary, pay,
47 compensation, other perquisites, or tenure of a person to whom this
48 act applies, or shall apply, and notwithstanding that the minimum
A4133