This bill aims to extend law enforcement officer benefits to certain public employees enrolled in the Public Employees Retirement System (PERS) and introduces a prohibition on the appointment of individuals over the age of 35 to positions eligible for the Police and Firemen's Retirement System (PFRS). Specifically, it mandates that any public employee employed on the bill's effective date, who holds a law enforcement officer position and was already enrolled in PERS, must be transitioned into the law enforcement officer category of PERS within 90 days unless they opt out by signing a waiver. The Division of Pensions and Benefits will notify eligible individuals and provide instructions for waiving participation. Those who choose to enroll will receive all benefits associated with the law enforcement officer category, and their prior service credit will be recognized accordingly.

Additionally, the bill amends the definition of "law enforcement officer" to include a broader range of titles, thereby expanding eligibility for enhanced benefits. It also stipulates that if the PERS actuary identifies any incurred liability due to these changes, the affected employees will be responsible for covering the difference between their prior service value and their new classification within the law enforcement section. The payment can be made in a lump sum or through monthly installments over a maximum of ten years. The bill ensures that individuals employed before its effective date are not affected by the new age restriction for appointments.

Statutes affected:
Introduced: 43:15A-97