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  • NJ A2132
  • Increases from $15,000 to $25,000 annual compensation PERS retiree may earn in PERS-covered employment without reenrollment.
Introduced
(1/27/2016)
In Committee
(1/27/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill increases to $25,000 the maximum aggregate annual compensation a person receiving a retirement allowance from the Public Employees' Retirement System of New Jersey (PERS) may earn from one or more PERS-covered public employment positions without being reenrolled in the system. Generally under current law, if a member of the PERS who retires and receives a retirement allowance for any cause other than disability subsequently becomes employed again in a position which makes the retiree eligible to be a member of PERS, the retiree is required to reenroll in the retirement system and the payment of a retirement allowance ceases unless the annual compensation of the subsequent employment does not exceed $15,000. This limitation applies to aggregate compensation from all employers for all PERS-covered positions. Absent reenrollment, the retiree collects the compensation of the subsequent employment and continues to receive the retirement allowance based upon the retiree's former PERS membership. This reenrollment exemption was initially created in 1997 and was set at $10,000. The amount was increased to $15,000 in 2001. Current law permits the Director of the Division of Pensions and Benefits to increase this amount from time to time by 3/5 of the percentage of change in the consumer price index over a period of time as determined by the director. The director has made no adjustment and the maximum remains at $15,000. The bill also revises the language concerning employment after retirement as a teacher with an institution of higher education to clarify that such employment without reenrollment is permitted regardless of the annual compensation received. The compensation for such a position has not been, and will not be, included in the annual aggregate limit received for other PERS-covered positions.
Not specified
Introduced, Referred to Assembly State and Local Government Committee  (on 1/27/2016)
 
 

Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly State and Local Government Committee
Date Motion Yea Nay Other
None specified