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Bill > A1768
NJ A1768
NJ A1768Provides service credit for PERS member for former membership in transit retirement program.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
Under this bill, a member of the Public Employees' Retirement System (PERS) who was a member, on or before July 30, 2006, of the Transit Employees' Retirement Program (TERP) of the New Jersey Transit Corporation would be credited with one year of service, or part thereof, in the PERS for each 3.5 years, or part thereof, of service credit in the TERP if the member and employer contributions are transferred from that program into the retirement system for those years of credited service.
AI Summary
This bill allows members of the Public Employees' Retirement System (PERS) who were also members of the Transit Employees' Retirement Program (TERP) of the New Jersey Transit Corporation on or before July 30, 2006, to receive service credit in PERS. Specifically, for every 3.5 years of service credit a member has in TERP, they will be credited with one year of service in PERS, provided that all member and employer contributions for those years are transferred from TERP to PERS. This transfer of funds is crucial for the service credit to be granted, and it must comply with state and federal laws. Importantly, no additional contributions will be required from the member or their employer for this transferred service credit, and it will count towards meeting benefit requirements in PERS. However, if a member has already withdrawn their TERP contributions or if the full transfer of funds is not possible for any reason, they will not receive this service credit. Furthermore, this provision does not apply if the member already has a vested right to retirement benefits from TERP based on that service.
Committee Categories
Government Affairs
Sponsors (2)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 01/13/2026)
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/2026/A1768 |
| BillText | https://pub.njleg.gov/Bills/2026/A2000/1768_I1.HTM |
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