Removes restriction on receipt of retirement annuities by certain members of JRS who file for deferred retirement.
Impact
The passage of A3771 would have significant ramifications for state laws governing the retirement benefits of judicial officers. It provides judges with more options regarding when and how they can retire without the fear of losing their financial retirement benefits. Furthermore, the bill is designed to be retroactive to November 1, 2020, indicating an intention to address and rectify past situations where eligible judges may have missed out due to the previous restrictive provisions. This change could positively affect judicial turnover rates, especially in high-demand roles like county prosecutors and administrative directors.
Summary
Assembly Bill A3771 aims to amend the current laws surrounding the Judicial Retirement System (JRS) in New Jersey. Specifically, this bill removes the existing restriction on receiving retirement annuities for certain members of the JRS who apply for deferred retirement. Under prior law, judges who moved to certain prosecutorial positions or administrative roles would lose eligibility for retirement payments. This bill facilitates a more flexible approach, allowing eligible members who have served a minimum time and reached a certain age to retire with annuities intact when they transition to these roles.
Contention
Despite its favorable implications for judicial retirement flexibility, A3771 may face scrutiny regarding the cost implications of such adjustments on the state's pension system. Some stakeholders might argue that relaxing the existing regulations could strain pension resources if a significant number of eligible members choose to retire at once with annuities. Additionally, there could be resistance from various political factions concerned about the implications of rewarding retirement benefits for roles seen as critical, potentially aligning with broader debates about pension reform in New Jersey.
Provides options to PERS member who elects deferred retirement to designate retirement allowance to survivor after retiree's death; removes 30 days advance notice.
Provides medical documentation requirement for certain members of PERS, PFRS, and SPRS to receive accidental disability retirement allowance for participation in 9/11 World Trade Center rescue, recovery, or cleanup operations; removes filing deadline.
Permits service credit in Prosecutors Part of PERS for judicial clerk service; increases salary of Presiding Judge of Appellate Division and county prosecutor; permits retired judges to collect pension while serving as county prosecutor.
Permits service credit in Prosecutors Part of PERS for judicial clerk service; increases salary of Presiding Judge of Appellate Division and county prosecutor; permits retired judges to collect pension while serving as county prosecutor.
Permits service credit in Prosecutors Part of PERS for judicial clerk service; increases salary of Presiding Judge of Appellate Division and county prosecutor; permits retired judges to collect pension while serving as county prosecutor.
Establishes motor vehicle insurance compliance programs; allows law enforcement agencies to utilize license plate readers to enforce motor vehicle insurance requirements.
Establishes motor vehicle insurance compliance programs; allows law enforcement agencies to utilize license plate readers to enforce motor vehicle insurance requirements.