SENATE, No. 81

STATE OF NEW JERSEY

Introduced Pending Technical Review by Legislative Counsel

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

By Senators BASSANO and CONNORS

An Act concerning certain State employee insurance and investment programs and supplementing Title 52 of the Revised Statutes.

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

    1. Each State employee shall be able to voluntarily purchase insurance policies, mutual funds, annuities or other investments on a group participation or individual basis. The costs shall be borne by the employee selecting the insurance coverage or investment program. Whenever any State employee requests in writing that a deduction be made from the employee's salary in order to pay for the costs, the employer shall make the deduction from the employee's salary and transmit the sum so deducted to the designated organization or company.

    2. The designated organization or company shall provide information concerning the insurance coverage or investment program to interested employees.

    3. This act shall take effect immediately.

STATEMENT

    This bill provides that each State employee shall be able to voluntarily purchase insurance policies, mutual funds, annuities or other investments on a group participation or individual basis. The costs shall be borne by the employee selecting the insurance coverage or investment program. Whenever any State employee requests in writing that a deduction be made from the employee's salary in order to pay for the costs, the employer shall make the deduction from the employee's salary and transmit the sum so deducted to the designated organization or company. The designated organization or company

shall provide information concerning the insurance coverage or investment program to interested employees.

Provides for salary deductions for voluntary insurance and investment programs for State employees.