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Bill > S2078


NJ S2078

NJ S2078
Extends membership in TPAF to 10 years after discontinuance of service and to 15 years for those who were laid off or had 10 or more years of continuous service upon voluntary termination.


summary

Introduced
01/09/2024
In Committee
03/17/2025
Crossed Over
Passed
Dead
01/12/2026

Introduced Session

2024-2025 Regular Session

Bill Summary

Extends membership in TPAF to 10 years after discontinuance of service and to 15 years for those who were laid off or had 10 or more years of continuous service upon voluntary termination.

AI Summary

This bill extends the period during which former members of the Teachers' Pension and Annuity Fund (TPAF) can maintain their membership after discontinuing service, allowing them to return to the fund. Specifically, membership will now cease after 10 consecutive years of discontinued service, an increase from the previous two years, and this extension also applies to those who voluntarily leave service after 10 or more years of continuous service or who were laid off, for whom the membership can be maintained for up to 15 years. The bill amends several sections of New Jersey statutes related to the TPAF, including provisions on membership cessation, continued membership after discontinuance, and the calculation of retirement allowances, aiming to provide greater flexibility for educators who may need to take time away from service.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (11)

Last Action

Substituted by A1675 (2R) (on 03/24/2025)

bill text


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