This bill amends the Police and Firemen's Retirement System (PFRS) regulations to allow members to purchase credit for service as a class two special law enforcement officer with a public employer in New Jersey, provided that the service occurred before they became a member of the PFRS. Members can purchase credit for up to 10 years of this service, and the purchase process will mirror that of purchasing credit for federal employment or military service, with the member responsible for both their and the employer's share of the cost. Additionally, the bill stipulates that the break between service as a class two special law enforcement officer and the appointment to a PFRS-covered position must be less than 120 days, and members will have one year from the bill's effective date to apply for this purchase.

The bill also includes provisions that exempt the employer from any payment obligations to the retirement system for the purchase of this credit and ensures that members are not liable for costs associated with pension adjustment benefits and health care benefits when purchasing this credit. Members who retire before completing their payment obligations will receive pro rata credit for the service purchased prior to retirement, with an option to make a lump sum payment at that time for full credit.

Statutes affected:
Introduced: 43:16A-11.11