The bill amends New Jersey laws to require that Administrative Law Judges (ALJs) be enrolled in the Workers Compensation Judges Part of the Public Employees' Retirement System (PERS), replacing their current participation in the Defined Contribution Retirement Program (DCRP). It mandates that any ALJ currently in the DCRP be transferred to the new retirement system within 90 days of the bill's effective date, ensuring they receive service credit for their time in the DCRP. The bill also specifies that the unfunded liabilities associated with these benefits will be covered by appropriations from the State General Fund.

Additionally, the bill introduces several amendments to enhance the retirement benefits for both ALJs and workers' compensation judges. Key insertions include provisions for survivor benefits, retirement allowances, and the option for judges to purchase credit for previous service. The amendments aim to provide equitable treatment and financial security for both groups, aligning the retirement benefits of ALJs with those of workers' compensation judges. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 43:15C-2, 43:15A-7, 43:15A-142, 43:15A-143, 43:15A-144, 43:15A-145, 43:15A-146, 43:15A-147, 43:15A-148, 43:15A-149, 43:15A-150, 43:15A-151, 43:15A-152, 43:15A-153, 43:15A-154