Permits certain elected municipal officials to be deemed retired for pension purposes upon forfeiting compensation for that position.
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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 would allow certain elected municipal officials in New Jersey to retire while still holding their office if their retirement benefits aren't solely based on their time in that position and if they voluntarily give up any compensation they receive for the office. The bill requires the Department of the Treasury to create rules to implement this change and ensures the program’s federal qualification is maintained. It will take effect immediately upon passage.
Bill text
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Document of record
- Version
- Introduced
- Published
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Sponsors
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1 on record
Primary sponsor
Joseph Cryan
Arguments
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