[HISTORY: Adopted by the Township Committee of the Township of Kingwood as indicated in article histories. Amendments noted where applicable.]
Article I Defined Contribution Retirement Program
Article II Supplemental Retirement Health Insurance Benefits
[Adopted 10-7-2008 by Ord. No. 15-22-2008]
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:
Individuals serving in the following positions are exempt from the Defined Contribution Retirement Program membership, pursuant to N.J.S.A. 43:15C-2:
If an individual is appointed to one of the positions listed in § 39-1 and the individual is not serving in a position as described in § 39-2 above, the Pension Certifying Officer of the municipality may determine that the individual is not required to join the Defined Contribution Retirement Program if that individual:
Was an active participant in the Public Employee Retirement System on July 1, 2007, and continuously since that time; or
Has been appointed pursuant to a valid promotional process; or
Is appointed on a temporary, interim or "acting" basis in a position requiring state certification as set forth in § 39-2 herein and is in pursuit of the required certification; or
Meets such other exceptions that may be approved by the Local Finance Board or the Division of Pensions and Benefits.
This article shall be implemented, construed and subject to the aforesaid Chapter 92 of the Laws of 2007 (N.J.S.A. 43:15C-1 et seq.), as amended from time to time, and any regulations or guidance documents from the Local Finance Board for the Division of Pensions and Benefits.
[Adopted 12-30-2008 by Ord. No. 15-28-2008]
Upon retirement, Township employees who have been employed by the Township for at least 45 years and are at least 65 years of age and who have primary health insurance through Medicare or Medicaid are entitled to either payment or reimbursement, up to an annual maximum of $3,000, for the cost of supplemental health insurance coverage through a supplemental insurer of the employee's choice.
Such payment or reimbursement for such supplemental health insurance benefits is only available to the qualified retired employee and not to any dependents of such an employee.
Upon arranging for such supplemental insurance, the qualified retired employee shall submit an invoice and voucher to the Township in order to be entitled to either payment or reimbursement (if proof of payment is submitted) from the Township up to a maximum of $3,000 annually.