Bill > A221

This bill provides that the compensation of a public employee subject to pension and group life insurance contributions and creditable for retirement and death benefits in a State-administered retirement system or fund will be limited to base salary and will not include extra compensation. The bill defines "base salary" as the annual compensation of a member, plus the value of maintenance, if applicable, in accordance with contracts, ordinances, resolutions or other established salary policies of the member's employer. The bill defines "extra compensation" as various forms of additional remuneration, such as overtime, bonuses, and lump-sum payments, that are granted primarily in anticipation of a member's retirement or as additional pay for temporary duties beyond the regular workday or work year. The bill also provides that the Division of Pensions and Benefits will investigate increases in compensation reported for credit which exceed the reasonably anticipated annual compensation increases for members of a retirement system.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2022/A221