Permits TPAF and PERS retirees to change named beneficiary upon death of previously named beneficiary.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill allows New Jersey Transportation and Pension Fund Authority (TPAF) and Public Employees Retirement System (PERS) retirees to update the designated beneficiary of their retirement accounts after the death of their previously named beneficiary. Currently, the process for making these changes can be complex and time-consuming. This legislation simplifies the procedure, providing retirees with greater flexibility and control over how their retirement assets are distributed. It aims to ensure that beneficiaries are accurately identified and receive their intended inheritance.
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1 on record
Primary sponsor
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