This bill amends current law regarding retired members of the Public Employees Retirement System (PERS) who return to employment in teaching staff positions at public institutions of higher education. Specifically, it eliminates the existing salary threshold of $10,000 per year that previously exempted these retirees from cancellation and re-enrollment requirements upon re-employment. The bill clarifies that former members who have been granted a retirement allowance can return to teaching positions without any restrictions related to their compensation, thereby allowing for greater flexibility in hiring retired educators.

Additionally, the bill introduces provisions that allow for the re-enrollment of former members in the retirement system and the reinstatement of their retirement allowances upon subsequent retirement, while ensuring that they are treated as active members for determining benefits during their re-employment. The changes are based on a proposal from the New Jersey Law Revision Commission, reflecting a legislative intent to facilitate the return of retired educators to teaching roles without financial limitations. The act is set to take effect immediately upon passage.

Statutes affected:
Introduced: 43:15A-57.2