SENATE, No. 2093

 

STATE OF NEW JERSEY

 

INTRODUCED MAY 15, 1997

 

 

By Senator CAFIERO

 

 

An Act concerning the age of retirement for certain members of 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 the provisions of section 5 of P.L.1944, c.255 (C.43:16A-5) or any other law, rule or regulation to the contrary, any member of the Police and Firemen's Retirement System who, on the effective date of this act, is at least 40 years of age shall be permitted to continue such membership after attainment of age 65 years until the first day of the calendar month immediately following the calendar month in which the member establishes 25 years of creditable service, whereupon the member shall be retired.

 

    2. This act shall take effect immediately.

 

 

STATEMENT

 

    This bill permits a member of the Police and Firemen's Retirement System who is at least 40 years of age on the date on which the bill takes effect as law to continue membership in the retirement system past the normal mandatory age of 65 years until the member shall have established 25 years' creditable service in the system.

 

 

                             

 

Allows certain PFRS members age 40 or older to continue membership past age 65 until attainment of 25 years' creditable service.