New Jersey Assembly Bill A5469

New Jersey 2022-2023 Regular Session

• Introduced: 5/18/23
• Refer: 5/18/23
• Report Pass: 11/30/23
• Engrossed: 12/7/23
• Refer: 12/11/23

Caption

Provides for purchase of PFRS credit for service as class two special law enforcement officer.

Impact

The implementation of A5469 is expected to provide expanded retirement options for those who have served as class two special law enforcement officers. Notably, it allows individuals to reflect their total service years within the PFRS, which is significant for overall retirement benefits. Such amendments may have positive implications for the morale of law enforcement personnel, encouraging the retention of experienced individuals within the state’s workforce.

Summary

Assembly Bill 5469 introduces provisions for members of the Police and Firemen's Retirement System (PFRS) to purchase credit for prior service as class two special law enforcement officers. This bill aims to amend existing regulations by allowing eligible members to purchase up to 10 years of service credit for employment as a class two special law enforcement officer prior to joining the retirement system. Furthermore, this service credit purchase must occur within one year of the bill's enactment and requires that the break in service between their role as a class two special law enforcement officer and their PFRS position be less than 120 days.

Contention

While the bill appears largely supportive of law enforcement personnel, details surrounding the cost of purchasing these service credits may raise questions. Members are required to bear both their share and that of their employer, which could lead to financial burdens for some. Additionally, concerns over the bill's implications on retirement systems' funding could spark debate among stakeholders, specifically in balancing the system's sustainability with the needs of current and former law enforcement officers. The nuance of these financial responsibilities and their long-term implications on state retirement obligations will likely be points of contention in discussions surrounding this legislation.