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 contrasts with the existing law, which requires members to be at least 55 years old to qualify for a similar retirement allowance.

Additionally, the bill modifies the language regarding the retirement process by replacing the term "Board of Chosen Freeholders" with "board of county commissioners" in the context of allowing prosecutors who reach age 70 to continue their service. The bill aims to provide greater flexibility and benefits for long-serving prosecutors, thereby encouraging retention and acknowledging their service to the state.

Statutes affected:
Introduced: 43:15A-158