ASSEMBLY STATE GOVERNMENT COMMITTEE

STATEMENT TO

ASSEMBLY, No. 1604

with committee amendments

STATE OF NEW JERSEY

DATED: APRIL 22, 1996

      The Assembly State Government Committee reports favorably and with committee amendments Assembly, No. 1604.

      This bill would allow a retired member of the Public Employees’ Retirement System (PERS) to accept employment in a position covered by the retirement system without being subject to cancellation of retirement benefits and reenrollment in the system, provided the person’s annual compensation from the position does not exceed $10,000. Neither the individual nor the employer would be required to contribute to the retirement system with respect to the new employment.

COMMITTEE AMENDMENTS

      The committee adopted amendments to this bill to increase the annual compensation in a PERS-covered position that a PERS retirant could receive without losing benefits and having to reenroll in the system to $10,000 from $5,000 under the bill as introduced.