House Bill No. 5384 proposes amendments to the State Employees Retirement System (SERS) regarding hazardous duty pensions for specific judicial employees. The bill allows certain investigators, specifically those in the Division of Criminal Justice, the Division of Public Defender Services, and support service investigators in the Superior Court's Support Enforcement Services, to earn service credit towards a hazardous duty pension for their service starting October 1, 2026. The definition of "hazardous duty member" is expanded to include these investigators, while the previous language excluding them is deleted.

Additionally, the bill stipulates that credited service for these hazardous duty members will be calculated from the effective date of October 1, 2026. This change is expected to result in a significant fiscal impact, with an estimated cost of approximately $581,000 in FY 27, increasing to $775,000 in FY 28, as the transition from regular SERS to hazardous duty pensions is implemented. The total annual state cost for the hazardous duty pensions for the eligible investigators is projected to be around $1.2 million, compared to $456,000 for their regular pensions.