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. This retirement must occur on or after the effective date of the bill but no later than 60 months following that date. Members qualifying under this provision will receive a service retirement allowance equal to 50 percent of their final compensation.

Currently, members must be at least 55 years old and have 20 years of service credit to retire with a 50 percent allowance of their final compensation. The bill introduces a new provision that eliminates the age requirement for retirement, thereby expanding the eligibility criteria for service retirement among prosecutors. Additionally, it replaces the term "Board of Chosen Freeholders" with "board of county commissioners" in the context of retirement notifications.

Statutes affected:
Introduced: 43:15A-158