Permits certain members of Prosecutors Part of PERS to qualify for service retirement with 20 or more years of service.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill amends the New Jersey Public Employees’ Retirement System (PERS) to allow certain prosecutors to retire with a service retirement allowance after 20 years of service, regardless of their age. Specifically, it extends this eligibility to members enrolled in the Prosecutors Part of PERS before a certain effective date. The bill modifies existing retirement formulas to provide a 50% allowance based on final compensation for those meeting the 20-year service requirement.
Bill text
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Document of record
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Sponsors
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1 on record
Primary sponsor
Joseph Lagana
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