New Jersey Senate Bill S2153

New Jersey 2024-2025 Regular Session

• Introduced: 1/9/24
• Refer: 1/9/24

Caption

Permits certain retired public employees in PERS to collect pension while also collecting salary as an elected official.

Impact

The bill directly impacts state retirement laws by reintroducing a provision similar to one that was repealed in 2011. By permitting retired public employees to hold elected positions while benefiting from both a pension and a salary, S2153 seeks to alleviate potential financial conflicts for elected officials. The implication is that more individuals might feel encouraged to serve in public office without the fear of losing essential retirement income, potentially fostering higher participation rates among those eligible for retirement.

Summary

Senate Bill S2153 proposes to amend the regulations governing the Public Employees' Retirement System (PERS) in New Jersey. Specifically, it allows members of PERS who are currently serving as elected officials to retire and collect their pension benefits while simultaneously receiving the full salary from the public office they hold. This stipulation applies only if their retirement benefits are not solely dependent on their service in that elected office. It aims to ensure that these officials can maintain their roles without financial detriment related to their retirement options.

Contention

While the bill may appear to strengthen the financial security of retired public officials, it could raise concerns regarding the integrity of public service. Critics may question whether allowing individuals to receive both salaries and pensions could lead to misuse of public resources or to situations where elected officials prioritize their financial interests over their duties. As it stands, the legislation emphasizes current elected officials, which may be seen as favoring those already in power rather than addressing broader retirement issues for all public employees.