Establishes alternate calculation of retirement benefits for members of TPAF and PERS.
Take action
Record your position on this measure.
Create an account to take a stance, submit a written position, or contact your legislator.
Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill changes how retirement benefits are calculated for members of the Teachers’ Pension and Annuity Fund (TPAF) and the Public Employees’ Retirement System (PERS). It allows members to request an alternative calculation of their final compensation, using their average annual compensation for New Jersey service over the last three years of employment, instead of the standard calculation. This aims to potentially increase the benefit amount for eligible retirees. The bill also establishes a process for notifying members of the proposed calculation and provides a timeframe for approval.
Bill text
Read the latest version inline or switch to a previous version.
Document of record
- Version
- Introduced
- Published
- Not published in the source record
This version is published only as a document. Open the viewer to read it here, or download the file.
Sponsors
Official sponsors from legislative records.
1 on record
Primary sponsor
Arguments
Reasons offered for and against this legislation.
Arguments in favor
No arguments in favor have been submitted.
Submit yoursArguments opposed
No arguments opposed have been submitted.
Submit yours