NJ
New Jersey Senate Bill S1897

New Jersey 2024-2025 Regular Session

New Jersey Senate Bill S1897

Introduced
1/9/24  

Caption

Allows law enforcement officers in PERS to transfer to and enroll in PFRS; requires all law enforcement officers to be enrolled in PFRS.

Impact

If enacted, S1897 would require law enforcement officers hired after its effective date to be enrolled in the PFRS. This legislative change is intended to standardize the retirement benefits for current and future officers, aligning them with their duties and risks associated with their roles. The bill mandates that those who wish to transfer from PERS to PFRS must waive any rights to their benefits under PERS, presenting a significant decision for the officers involved. Furthermore, it establishes timelines for the remittance of deducted funds from the Public Employees' Retirement System to the Police and Firemen's Retirement System, thus ensuring a smooth transition for the law enforcement personnel's pension assets.

Summary

Bill S1897 proposes significant changes to the retirement systems for law enforcement officers in New Jersey. It allows law enforcement officers currently enrolled in the Public Employees' Retirement System (PERS) to transfer their pension memberships to the Police and Firemen's Retirement System (PFRS). This bill is aimed at enhancing the retirement benefits available to officers who serve in these crucial roles, ensuring that they are enrolled in a system tailored specifically for law enforcement personnel. This initiative is expected to increase the benefits for current and future law enforcement officers, promoting greater job satisfaction and retention within the ranks.

Contention

There may be contention surrounding the potential implications of the bill on existing law enforcement officers, particularly concerning the waiver of rights under the PERS. Some officers may be hesitant to relinquish the benefits accrued under PERS, leading to debates about the equity of the transition process. Additionally, while the bill aims to provide better financial security through enhanced retirement options, the requirement for new hires to automatically enroll in the PFRS could be viewed as limiting personal choice regarding retirement planning. These discussions will likely shape the final formulation and political support for S1897 as it moves through the legislative process.

Companion Bills

NJ S802

Carry Over Allows law enforcement officers in PERS to transfer to and enroll in PFRS; requires all law enforcement officers to be enrolled in PFRS.

Previously Filed As

NJ S802

Allows law enforcement officers in PERS to transfer to and enroll in PFRS; requires all law enforcement officers to be enrolled in PFRS.

NJ S2940

Provides for law enforcement officer benefits for certain public employees enrolled in PERS; prohibits hiring by State or county of public employees after age 35 in positions eligible for PFRS.

NJ S2539

Provides for law enforcement officer benefits for certain public employees enrolled in PERS; prohibits hiring by State or county of public employees after age 35 in positions eligible for PFRS.

NJ A3945

Provides for law enforcement officer benefits for certain public employees enrolled in PERS; prohibits hiring by State or county of public employees after age 35 in positions eligible for PFRS.

NJ A2160

Provides for law enforcement officer benefits for certain public employees enrolled in PERS; prohibits hiring by State or county of public employees after age 35 in positions eligible for PFRS.

NJ S601

Requires PFRS enrollment to be retroactive to first date of employment for death benefit eligibility.

NJ S4198

Requires PFRS enrollment to be retroactive to first date of employment for death benefit eligibility.

NJ A740

Requires PFRS enrollment to be retroactive to first date of employment for death benefit eligibility.

NJ A5787

Requires PFRS enrollment to be retroactive to first date of employment for death benefit eligibility.

NJ S3606

Permits purchase of service credit in SPRS for period of enrollment in military service academy and in New Jersey State Police Academy, and employment as class two special law enforcement officer.

Similar Bills

NJ S802

Allows law enforcement officers in PERS to transfer to and enroll in PFRS; requires all law enforcement officers to be enrolled in PFRS.

KS HB2428

Providing membership in the Kansas police and firemen's retirement system for certain security officers of the department of corrections and for certain law enforcement officers and employees of the Kansas department of wildlife and parks.

KS HB2196

Providing membership affiliation in the Kansas police and firemen's retirement system for certain law enforcement officers and employees of the Kansas department of wildlife and parks, expanding deferred retirement option program (DROP) membership to all Kansas police and firemen's retirement system members and extending the expiration date on DROP.

KS HB2198

Providing membership affiliation in the Kansas police and firemen's retirement system for certain law enforcement officers and employees of the Kansas department of wildlife and parks.

IL SB1585

PEN CD-ARTS 4 & 6-TRANSFER

NJ S2130

Extends membership in TPAF to four years after discontinuance of service and to 20 years for those who were laid off or had 10 or more years of continuous service upon voluntary termination.

NJ A3525

Extends membership in TPAF to four years after discontinuance of service and to 20 years for those who were laid off or had 10 or more years of continuous service upon voluntary termination.

NJ S3755

Extends membership in TPAF to four years after discontinuance of service and to 20 years for those who were laid off or had 10 or more years of continuous service upon voluntary termination.