This bill amends several sections of New Jersey's Teachers' Pension and Annuity Fund (TPAF) laws to extend the duration of membership for teachers who have discontinued service. Specifically, it changes the period after which a member's service ceases from two years to ten years for general cases, and from ten years to fifteen years for teachers who were laid off or had ten or more years of continuous service upon voluntary termination. Additionally, the bill introduces new provisions that allow teachers who return to service within these time frames to be eligible for enrollment in the fund based on the eligibility requirements at the time of their termination.

The bill also includes various amendments to existing laws, such as the requirement for the pension fund to notify members of their inactive status and the conditions under which teachers can maintain their membership despite discontinuation of service. Furthermore, it clarifies the rules regarding the purchase of credit for time absent on official leave without pay and the transfer of pension reserves when members elect to participate in alternate benefit programs. Overall, the legislation aims to provide greater flexibility and security for teachers regarding their retirement benefits.

Statutes affected:
Introduced: 18A:66-173
Advance Law: 18A:66-173