New Jersey A3957 makes local government business administrators eligible for membership in the Public Employees’ Retirement System (PERS) and allows.
New Jersey A3957 amends the eligibility criteria for the Public Employees’ Retirement System (PERS) to include local government business administrators. These administrators, who currently participate in the Defined Contribution Retirement Program (DCRP), will now be eligible for PERS membership. The bill provides for the transfer of DCRP account values to PERS in accordance with federal Internal Revenue Code and Internal Revenue Service guidance.
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