This bill amends the current law governing accidental death benefits for members of the Police and Firemen's Retirement System (PFRS) in New Jersey. It allows a companion of a deceased member, in the absence of a surviving spouse, to receive a pension equal to 70% of the member's compensation or adjusted final compensation, or a minimum of $50,000, whichever is greater. The bill also introduces the concept of "adjusted final compensation," which accounts for percentage increases in the compensation schedule of active members after the member's death until they would have accrued 25 years of service. This adjustment will apply to benefit entitlements granted prior to the bill's effective date but will only affect payments made after that date.

Additionally, the bill provides a mechanism for companions of members who died on or after January 1, 2023, to apply for the accidental death pension retroactively to the date of the member's death, provided certain conditions are met, such as the absence of surviving spouses, children, or dependent parents. The definition of "companion" is also established, outlining the criteria for an individual to qualify as such, including cohabitation for at least two years and public recognition of the relationship as equivalent to marriage. Overall, the bill aims to expand the benefits available to the families of fallen PFRS members while ensuring that compensation reflects adjustments made to the salaries of active members.

Statutes affected:
Introduced: 43:16A-10