T & E
P.L. 1997, CHAPTER 89, approved May 8, 1997
Senate, No. 853 (First Reprint)
An Act concerning membership in the Police and Firemen's Retirement System of New Jersey and supplementing P.L.1944, c.255 (C.43:16A-1 et seq.).
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Notwithstanding any law, rule or regulation to the contrary, any member of the Public Employees' Retirement System of New Jersey holding the title of criminal investigator in the Division of Criminal Justice in the Department of Law and Public Safety 1[who, at the time that the board of trustees of the Police and Firemen's Retirement System of New Jersey approved that title for coverage under the retirement system as authorized by subsection b. of section 2 of P.L.1989, c.204 (C.43:16A-1.2), held the title of criminal information analyst in the division and was under 35 years of age, but whose subsequent appointment to the title of criminal investigator pursuant to the conversion of analyst positions in the Division to investigative positions did not, due to an administrative procedural delay, become effective until the person had attained the age of 35 years,]1 shall be permitted to transfer membership in the Public Employees' Retirement System to the 1[retirement system] Police and Firemen's Retirement System1 by waiving all rights and benefits which would otherwise be provided by the Public Employees' Retirement System. Any such employee shall likewise be permitted to continue membership in the Public Employees' Retirement System by waiving all rights and benefits which would otherwise be provided by the 1[retirement system] Police and Firemen's Retirement System1. Such waivers shall be accomplished by filing forms satisfactory to the Division of Pensions and Benefits in the Department of the Treasury within 90 days of the effective date of this act. In the absence of the filing of a
timely waiver by any eligible employee, the pension status of that employee shall remain unchanged and the membership of the employee shall not be transferred to the 1[retirement system] Police and Firemen's Retirement System1. A transferring employee under this section shall be liable for payment to the 1[retirement system] Police and Firemen's Retirement System1 of the amount of the difference between the contribution that the employee paid to the Public Employees' Retirement System as a member thereof and the contribution that would have been required if the employee had been a member of the Police and Firemen's Retirement System since the date on which the person's appointment as a criminal investigator in the Division of Criminal Justice became effective, plus regular interest at the rate applicable on the date of the transfer. This payment may be made in a lump sum or in regular monthly installments equal to at least 1/2 the employee's normal contribution to the retirement system over a maximum period of 10 years, as the employee may elect, and pursuant to rules and regulations as may be promulgated by the Division of Pensions and Benefits.
2. The Public Employees' Retirement System shall, within 120 days of the effective date of any transfer pursuant to this act, remit to the Police and Firemen's Retirement System all accumulated deductions standing to the credit of each transferred employee and, within 180 days of that effective date, remit the pro-rata part of the reserve fund constituting the employer's obligations under the former system applicable to each employee's account. The retirement system shall enter the respective sums so remitted to it to the credit of the employee in the annuity savings fund and to the credit of the employer in the pension accumulation fund.
3. The transferred member shall have the same obligations, rights and benefits as other members of the Police and Firemen's Retirement System. Deductions from the member's salary and contributions on the member's behalf shall be made as required by the retirement system and shall be the same as deductions and contributions payable by or for other members of the retirement system.
4. All outstanding obligations, such as loans, purchases and other arrearages, shall be satisfied by the transferred employee as previously scheduled for payment to the Public Employees' Retirement System.
5. This act shall take effect immediately.
Extends PFRS membership to certain State criminal investigators.