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Bill > A671
NJ A671
NJ A671Provides service credit for PERS member for former membership in transit retirement program.
summary
Introduced
01/11/2022
01/11/2022
In Committee
09/22/2022
09/22/2022
Crossed Over
06/29/2022
06/29/2022
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 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 be credited with one year of service, or part thereof, in the PERS for each 3.5 years, or part thereof, of service credit in the TERP if the member and employer contributions are transferred from that program into the retirement system for those years of credited service.
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 one year of PERS service credit for every 3.5 years of TERP service, provided that the member and employer contributions are transferred from TERP to PERS. The bill specifies the conditions for this service credit transfer, including that the member cannot have withdrawn their TERP contributions or have a vested right to TERP retirement benefits.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (4)
Last Action
Received in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 09/22/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A671 |
| Fiscal Note - Fiscal Estimate 6/30/22; as introduced | https://pub.njleg.gov/Bills/2022/A1000/671_E1.PDF |
| Analysis - Statement AAP 6/23/22 | https://pub.njleg.gov/Bills/2022/A1000/671_S2.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A1000/671_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A1000/671_I1.PDF |
| Analysis - Technical Review Of Prefiled Bill | https://pub.njleg.gov/Bills/2022/A1000/671_T1.PDF |
| Analysis - Statement ASL 6/9/22 | https://pub.njleg.gov/Bills/2022/A1000/671_S1.PDF |
| Technical Review Of Prefiled Bill | https://www.njleg.state.nj.us/Bills/2022/A1000/671_T1.PDF |
| Statement ASL 6/9/22 | https://www.njleg.state.nj.us/Bills/2022/A1000/671_S1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1000/671_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1000/671_I1.PDF |
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