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Bill > A4329
NJ A4329
NJ A4329Permits purchase of service credit in PERS for period of time after termination of public employment due to COVID-19 pandemic if member returned to PERS employment within 12 months.
summary
Introduced
06/20/2022
06/20/2022
In Committee
06/20/2022
06/20/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill would permit the purchase of service credit by a member of the Public Employees' Retirement System (PERS) for time that the member was not working because the member's public employment was terminated, without personal fault, due directly to the COVID-19 pandemic. This purchase would be allowed if the member returned to service in a PERS-eligible position within 12 months from the date of discontinuance from service due to COVID-19 and returned all of the accumulated member's contributions withdrawn from the retirement system.
AI Summary
This bill would permit members of the Public Employees' Retirement System (PERS) to purchase service credit for periods of time they were not working due to their public employment being terminated as a direct result of the COVID-19 pandemic. To be eligible, the member must have returned to a PERS-eligible position within 12 months and repaid any withdrawn contributions. This would allow the member to be placed back in the same membership tier they were in prior to the discontinuance. The purchase of service credit can be made through regular installments over a maximum period of 10 years.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 06/20/2022)
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/A4329 |
| BillText | https://pub.njleg.gov/Bills/2022/A4500/4329_I1.HTM |
| Bill | https://pub.njleg.gov/Bills/2022/A4500/4329_I1.PDF |
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