Bill
Bill > A4468
NJ A4468
NJ A4468Requires PFRS to attain and maintain target funded ratio prior to enhancement of member benefits.
summary
Introduced
09/24/2018
09/24/2018
In Committee
09/24/2018
09/24/2018
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 Regular Session
Bill Summary
This bill will require the Police and Firemen's Retirement System (PFRS) to attain a target funded ratio of at least 80 percent and be able to maintain that target funded ratio of 80 percent or above for five valuation periods, as certified by the actuary of the system, before the board of the PFRS is allowed to enhance or modify any benefit or make any adjustment to the uniform contribution rate of the members.
AI Summary
This bill will require the Police and Firemen's Retirement System (PFRS) to attain a target funded ratio of at least 80 percent and maintain that target funded ratio of 80 percent or above for five valuation periods, as certified by the actuary of the system, before the board of the PFRS is allowed to enhance or modify any benefit or make any adjustment to the uniform contribution rate of the members. The bill also makes other changes to the governance and operations of the PFRS board of trustees.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Introduced, Referred to Assembly State and Local Government Committee (on 09/24/2018)
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/A4500/4468_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A4500/4468_I1.PDF |
Loading...