Bill > S3427

Introduced Session

Under current law, the surviving spouse of a member of the Police and Firemen's Retirement System of New Jersey (PFRS) who died in the line of duty receives a pension of 70 percent of the member's compensation, or a minimum of $50,000 annually, during the life of that spouse. If there is no surviving spouse, the pension of 70 percent of final compensation is paid to the member's surviving children. This bill requires that the amount of the compensation be adjusted for a period of time after the death of the member, thereby increasing the annual pension for surviving spouses and children. The compensation will be increased by the same percentage increase which is applied in any adjustments of the compensation schedule of active members after the member's death and before the date on which the deceased member of the retirement system would have accrued 25 years of service under an assumption of continuous service. At 25 years, the amount resulting from such increases will become fixed and be the basis for any increases for cost of living granted thereafter. Any adjustments will take effect at the same time as any adjustments in the compensation schedule of active members. The bill provides that adjustments to PFRS accidental death survivors' pension would apply to those granted prior to effective date of the bill but only for payments made on or after the effective date of the bill. In addition, this bill permits that same pension of 70 percent of compensation to be paid to a companion of a member who died in the line of duty on or after January 1, 2023. A companion is defined in the bill. The bill permits a companion of a member who died before the bill's effective date to file, within six months after the bill's effective date, an application for an accidental death pension, and if approved, the pension will be made retroactive to the date of the member's death. The companion of a member who died before the effective date of the bill may apply for a pension only if the deceased member did not have a surviving spouse, children, or dependent parents at the time of death, or if the member's aggregate contributions have not been paid to a beneficiary or the estate, or have been returned to the retirement system.

AI Summary

Committee Categories

Teresa Ruiz (D)*,  Britnee Timberlake (D)*, 

Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee (on 06/10/2024)

Official Document