[First Reprint]

SENATE, No. 81

 

STATE OF NEW JERSEY

 

PRE-FILED FOR INTRODUCTION IN THE 1996 SESSION

 

 

By Senators BASSANO and CONNORS

 

 

An Act concerning certain State 1and municipal1 employee insurance and investment programs and supplementing Title 52 1and Title 40A1 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.

 

    13. (New section) A law enforcement officer whose compensation is paid by a municipality in the State may voluntarily purchase a supplemental life insurance policy, on a group participation or individual basis, by informing the disbursing officer of the municipality in which the law enforcement officer is employed that the law enforcement officer wishes to have a deduction from the officer's compensation for payment of insurance premiums written on such a policy. The disbursing officer shall make such a deduction from the compensation of the requestor and shall subsequently transmit the appropriate sum to the company providing the supplemental life insurance. The insurance company shall be so designated by the local bargaining unit of the employee. Any cost incurred by the municipality for the administration of this program shall be reimbursed by the insurance company.

    The Commissioner of Insurance shall promulgate such rules and regulations as may be deemed necessary concerning payment of administrative fees by insurance companies to a municipality.1

 

    1[3.] 4.1 This act shall take effect immediately.

 

 

 

Provides for salary deductions for voluntary insurance and investment programs for State employees and for supplemental life insurance policies for municipal law enforcement officers.