Bill > A5791

This bill modifies retirement provisions for members of the Prosecutors Part of the Public Employees' Retirement System (PERS), creating a special temporary provision that allows certain prosecutors to retire with full benefits after 20 years of service, regardless of their age. Specifically, prosecutors who were enrolled in the system prior to the bill's effective date can retire within 5 years of the bill's enactment with a service retirement allowance equal to 50 percent of their final compensation, even if they have not yet reached the previously required retirement age of 55. Under current law, prosecutors must be at least 55 years old and have 20 or more years of service to receive this benefit. The bill also makes a minor technical change by replacing "Board of Chosen Freeholders" with "board of county commissioners" in a related provision. The purpose appears to be providing more flexibility for prosecutors to retire earlier, potentially as an incentive for retention or to recognize the unique nature of prosecutorial work.

Government Affairs

https://www.njleg.state.nj.us/bill-search/2024/A5791