Bill
Bill > S4130
NJ S4130
NJ S4130Provides service credit for PERS member for former membership in transit retirement program.
summary
Introduced
11/12/2021
11/12/2021
In Committee
11/12/2021
11/12/2021
Crossed Over
Passed
Dead
01/11/2022
01/11/2022
Introduced Session
2020-2021 Regular Session
Bill Summary
Under this bill, a member of the Public Employees' Retirement System (PERS) who was a member, on or before July 30, 2006, of the Transit Employees' Retirement Program (TERP) of the New Jersey Transit Corporation would receive service credit in the PERS for all years, and parts thereof, of credited service in the TERP. The member and the member's employer would not have to make contributions to the PERS for those years of TERP service credited in accordance with this bill. This provision would apply even if the member is eligible for or receiving a benefit under the TERP.
AI Summary
This bill allows members of the Public Employees' Retirement System (PERS) who were previously members of the Transit Employees' Retirement Program (TERP) of the New Jersey Transit Corporation on or before July 30, 2006 to receive service credit in PERS for their time in TERP, even if they are eligible for or receiving a benefit from TERP. The member and the member's employer will not have to make contributions to PERS for those years of TERP service credited under this bill. This provision is intended to provide service credit for PERS members who had previously participated in the TERP.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Transferred to Senate Budget and Appropriations Committee (on 12/09/2021)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2020/Bills/S4500/4130_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2020/Bills/S4500/4130_I1.PDF |
Loading...