This bill amends the provisions of P.L.2022, c.9 to allow additional members of the Police and Firemen's Retirement System (PFRS) to extend their service beyond the mandatory retirement age of 65. Specifically, it permits members who were serving as deputy police chiefs on the effective date of P.L.2022, c.9 (April 12, 2022) and who are promoted to police chief within the following 12 months to remain in the system until they reach the age of 67, provided that their appointing authority approves their continued service. This expansion aims to include more members in the retirement system who may wish to continue their service after reaching the age of 65.

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 end of the 60th calendar month following the effective date of P.L.2022, c.9. This report will detail the number of members retained as police or fire chiefs, the duration of their service beyond age 65, and the impact of this extended service on the retirement system. The bill is set to take effect immediately upon passage.

Statutes affected:
Introduced: 43:16A-5.3