This bill amends the current retirement provisions for members of the Prosecutors Part of the Public Employees Retirement System (PERS) in New Jersey. It allows active members who were enrolled prior to the bill's effective date to retire on or after that date, provided they have 20 or more years of creditable service, regardless of their age. The retirement allowance for these members will be set at 50 percent of their final compensation. This change is significant as it removes the previous requirement for members to be at least 55 years old to qualify for the same retirement benefit.

Additionally, the bill modifies the language regarding the retirement process by replacing the term "Board of Chosen Freeholders" with "board of county commissioners of the county employing the prosecutor." This reflects a shift in governance terminology while maintaining the overall structure of the retirement system. The bill is designed to provide greater flexibility and benefits to long-serving prosecutors, thereby encouraging retention and acknowledging their service.

Statutes affected:
Introduced: 43:15A-158