ASSEMBLY, No. 2854

 

STATE OF NEW JERSEY

 

INTRODUCED MAY 1, 1997

 

 

By Assemblywoman ALLEN and Assemblyman DeSOPO

 

 

An Act concerning the retirement of certain members of the Police and Firemen's Retirement System of New Jersey.

 

    Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

    1. Notwithstanding the provisions of P.L.1944, c.255 (C.43:16A-1 et seq.) to the contrary, a member of the Police and Firemen's Retirement System whose application for retirement has been approved by the board of trustees and who dies less than 40 days before the date of retirement having accumulated at least 24 years and 11 months of creditable service at the time of death shall be deemed to have retired with 25 years of creditable service if the surviving beneficiary so requests in writing to the board within 60 days after the effective date of this act or the date of death, whichever is later. Upon approval by the board, the request shall become irrevocable, and the survivors of the member shall receive all benefits due to survivors of a deceased member who, prior to death, retired pursuant to the provisions of section 16 of P.L.1964, c.241 (C.43:16A-11.1).

 

    2. This act shall take effect immediately and shall be applicable in the case of any member of the Police and Firemen's Retirement System who shall have died on or after July 1, 1996.

 

 

STATEMENT

 

    This bill provides that a member of the Police and Firemen's Retirement System (PFRS) whose application for retirement has been approved by the board of trustees and who dies less than 40 days before the date of retirement having accumulated at least 24 years and 11 months of creditable service at the time of death shall be deemed to have retired with 25 years of creditable service if the surviving beneficiary so requests. The beneficiary would have to make the request in writing to the board within 60 days after the date on which the bill takes effect as law or the date of death, whichever is later. Upon approval by the board, the request would become irrevocable, and the survivors of the member would receive the benefits due to survivors of a deceased member who, prior to death, retired on "special" retirement under section 16 of P.L.1964, c.241 (C.43:16A-11.1).

 

 

                             

Provides that certain members of PFRS whose application for retirement was approved but who died before retirement shall be declared retirees.