Borough of Woodstown, NJ Chapter 8A Defined Contribution Retirement Program

[HISTORY: Adopted by the Borough Council of the Borough of Woodstown 7-8-08 by Ord. No. 2008-09. Amendments noted where applicable.]

Be it ordained by the Mayor and Council of the Borough of Woodstown that:

§ 8A-1 Eligible positions.

Pursuant to N.J.S.A. 43:15C-2, the following positions are deemed to be eligible for and shall participate in the Defined Contribution Retirement Program, so long as they were not participating in the Public Employees Retirement System (PERS) prior to July 1, 2007. If the person serving in any position designated in this section was a member in PERS prior to July 1, 2007 and continues to be a member in PERS serving in the office designated below with no break in service of more than two years prior to being elected or appointed to the position, they may continue in PERS:

A. Elected/appointed member of Borough Council;

B. Municipal Court Judge.

§ 8A-2 Exempt positions.

Individuals serving in the following positions are exempt from Defined Contribution Retirement Program membership, pursuant to N.J.S. 43:15C-2:

A. Tax Collector;

B. Chief Financial Officer;

C. Construction Code Official;

D. Tax Assessor;

E. Registered Municipal Clerk;

F. Licensed Uniform Subcode Inspector;

G. Principal Public Works Manager.

§ 8A-3 Implementation of Program.

This chapter shall be implemented, construed and subject to the aforesaid Chapter 92 of the Laws of 2007 (N.J.S. 43:15C-1 et seq.) as amended from time to time, and any regulations or guidance documents from the Local Finance Board or the Division of Pensions and Benefits.