A 3957
Makes local government business administrators eligible for membership in PERS; provides for transfer from Defined Contribution Retirement Program to PERS.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill amends the Public Employees’ Retirement System (PERS) in New Jersey to make local government business administrators eligible for membership. It allows for a transfer of retirement savings from the Defined Contribution Retirement Program (DCRP) to the PERS, providing these administrators with access to the state’s traditional pension plan. The bill outlines specific procedures for enrollment, service credit recognition, and the calculation of any resulting unfunded liability.
Sponsors
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Primary sponsors
Cosponsors
Antwan McClellan
Gerry Scharfenberger
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