LEGISLATIVE FISCAL ESTIMATE TO

ASSEMBLY, No. 2361

STATE OF NEW JERSEY

DATED: FEBRUARY 6, 1997

      Assembly Bill No. 2361 of 1996 provides optional contributory insurance coverage to any member of the Judicial Retirement System for a death benefit in an amount equal to one and one-half times the member's compensation in the final year of service. The terms of the coverage are similar to those applicable to the optional contributory death benefit coverage available to members of the Public Employees' Retirement System.

      The Office of Legislative Services notes that this benefit is similar to the optional contributory death benefit coverage available to members of the other State-administered retirement systems and because this benefit will be paid with employee contributions it will not result in additional costs to the State.

      This legislative fiscal estimate has been produced by the Office of Legislative Services due to the failure of the Executive Branch to respond to our request for a fiscal note.

This fiscal estimate has been prepared pursuant to P.L.1980, c.67.