Extends membership in the Teachers' Pension and Annuity Fund to 15 years after discontinuance of service.

This bill amends the New Jersey law to extend the period of membership in the Teachers' Pension and Annuity Fund (TPAF) for individuals who discontinue their service. Currently, membership in TPAF ceases if an individual discontinues service for more than 10 years. This bill extends the period of discontinuance to 15 years, allowing members to maintain their membership and member tier in TPAF for a longer duration. This change affects individuals who have left their service and wish to retain their pension benefits under TPAF.

Extends membership in the Teachers' Pension and Annuity Fund to 15 years after discontinuance of service.

This bill amends the New Jersey law to extend the period of membership in the Teachers' Pension and Annuity Fund (TPAF) for individuals who discontinue their service. Currently, membership in TPAF ceases if an individual discontinues service for more than 10 years. This bill extends the period of discontinuance to 15 years, allowing members to maintain their membership and member tier in TPAF for a longer duration. This change affects individuals who have left their service and wish to retain their pension benefits under TPAF.