Price, Haneman and Schettino. The opinion of the court was delivered by Schettino, J.A.D.
Appeal is taken from a judgment of the Law Division denying plaintiff's claim against the defendant Board of Trustees of Teachers' Pension Annuity Fund (hereinafter referred to as "retirement system") for "death benefits" provided by N.J.S.A. 18:13-112.40(b) as the alleged beneficiary of her deceased husband who had been a member of the Fund.
The factual situation was neither disputed at trial nor here on appeal. Petitioner's husband became a member of the teachers' pension system in August 1950. Former R.S. 18:13-67 provided:
"If a contributor shall die before retirement, his accumulated deductions shall be paid to his estate or to such person having an insurable interest in his life as he has nominated by written designation duly executed and filed with the board of trustees."
Pursuant to R.S. 18:13-67, Mr. Meyer filled out the following form on August 28, 1950:
"I hereby nominate appoint and constitute Jeanette Morrissey Meyer whose relationship to me is wife and whose present address is Marlboro, N.J. if he/she survives me, otherwise my estate, as the sole beneficiary of all my rights and claims to the accumulated deductions standing to my credit in the Annuity Savings Fund in case of my death while a member of the Teachers' Pension and Annuity Fund.
And I hereby request that if I die while a member of the Teachers' Pension and Annuity Fund, before retirement, the Board of Trustees honor the claim of the above named beneficiary for the payment provided by law." (Emphasis added).
In 1955 the statutory provisions (R.S. 18:13-24 et seq.) under which this appointment had been made were expressly
repealed effective January 1, 1956 by N.J.S.A. 18:13-112.3 et seq. in a revision of the Fund which was integrated with the Federal Social Security System.
N.J.S.A. 18:13-112.4 provides in part:
"a. 'Accumulated deductions' means the sum of all the amounts, deducted from the compensation of a member or contributed by him, including interest credited prior to January 1, 1956, standing to the credit of his individual account in the annuity savings fund.
q. 'Teachers' Pension and Annuity Fund' hereinafter referred to as the 'retirement system,' is the corporate name of the arrangement for the payment of retirement allowances and other benefits under the provisions of this act, including the several funds placed under the management of the board of trustees of said system. By that name all its business shall be transacted, its funds invested, ...