SENATE BUDGET AND APPROPRIATIONS COMMITTEE

STATEMENT TO

SENATE, No. 3780

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 17, 2021

      The Senate Budget and Appropriations Committee reports favorably and with committee amendments Senate Bill No. 3780.

      This bill allows prosecutors hired on or after May 21, 2010 to enroll in the Prosecutors Part of the Public Employees’ Retirement System (PERS) which was originally established on January 7, 2002, but closed to new members on May 21, 2010.  The bill restores equity among all prosecutors by enrolling them in the same part of the PERS.  The bill will empower the Attorney General and County Prosecutors throughout the State to attract skilled and diverse attorneys and retain experienced prosecutors committed to promoting public safety and seeking equal justice under the law.

      Any service credit accrued in regular PERS prior to the effective date of this bill would be established in the Prosecutors Part without further assessment or cost to the prosecutor, in accordance with the original provisions of P.L.2001, c.366 (C.43:15A-155 et seq.).

      As amended, the bill provides that county prosecutors or acting county prosecutors enrolled in the Defined Contribution Retirement Program (DCRP) may purchase service credits in the Prosecutors Part for the amount initially contributed during each fiscal year of membership in DCRP.

COMMITTEE AMENDMENTS

      The committee amendments:

      (1) requires any service credit established in the Judicial Retirement System not deferred pursuant to current law be established in the Prosecutors Part without further assessment of cost to the prosecutor; and

      (2) provide that county prosecutors enrolled in the Defined Contribution Retirement Program (DCRP) may purchase service credits in the Prosecutors Part for the amount initially contributed during each fiscal year of membership in DCRP.

FISCAL IMPACT:

      Fiscal information for this bill is currently unavailable.