Bill > S2070

This bill allows members of the Police and Firemen's Retirement System (PFRS) to purchase credit for past service as a class two special law enforcement officer with a public employer in New Jersey, including time spent completing required basic police training. This provision is being added to existing law that already permits members to purchase credit for public employment in other states, federal service, or military service. The bill clarifies that the employer is not responsible for any payments to the retirement system for this type of purchased credit, and members will not be liable for costs associated with financing pension adjustment and healthcare benefits for retirees when purchasing this service. To be eligible, the gap between service as a class two special law enforcement officer and enrollment in the PFRS must be less than 365 days, and current members have one year from the bill's effective date to apply. The PFRS board of trustees will also notify all members about these new provisions.

Budget and Finance, Government Affairs

https://www.njleg.state.nj.us/bill-search/2024/S2070