This bill amends P.L.2022, c.9 to extend certain provisions regarding the mandatory retirement age for police and fire department chiefs. Under current law, members of the Police and Firemen's Retirement System (PFRS) must retire upon reaching age 65, but those serving as chiefs on the effective date of P.L.2022, c.9 (April 12, 2022) who will turn 65 within a specified timeframe can continue their service until they reach 67, provided they receive written approval from their appointing authority. The bill modifies the timeframe for this extension from the last day of the 24th calendar month following the effective date to the last day of the 48th calendar month, effectively allowing an additional two years of service for eligible chiefs.

Additionally, the bill requires the Board of Trustees of the PFRS to submit a report to the Governor and the Legislature within 30 days after the new deadline, detailing the impact of this extension on the retirement system. The report will include information on the number of members retained as chiefs, the duration of their service beyond age 65, and the overall effects on the retirement system. This legislative change aims to provide greater flexibility for police and fire chiefs regarding their retirement while ensuring oversight of its implications on the retirement system.

Statutes affected:
Introduced: 43:16A-5.3