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 regardless of age, provided they have attained 20 or more years of creditable service. The retirement allowance for these members will be set at 50 percent of their final compensation. This new provision is significant as it offers more flexibility for retirement compared to the existing law, which requires members to be at least 55 years old to qualify for the same retirement allowance.

Additionally, the bill removes the requirement for the Board of Chosen Freeholders to provide written notice for a prosecutor to continue service after reaching age 70, replacing it with a requirement for the board of county commissioners. The changes aim to streamline the retirement process for prosecutors and provide them with more options as they approach retirement, thereby enhancing their benefits and potentially improving workforce retention within the Prosecutors Part.

Statutes affected:
Introduced: 43:15A-158