New Jersey S1897 allows law enforcement officers to transfer from PERS to PFRS and mandates enrollment in PFRS for all officers.

New Jersey S1897 permits law enforcement officers currently enrolled in the Public Employees' Retirement System (PERS) to transfer to the Police and Firemen's Retirement System (PFRS). It requires all law enforcement officers to enroll in PFRS, with an option to waive PFRS benefits and remain in PERS. The bill mandates the Public Employees' Retirement System to remit all accumulated deductions and employer obligations to PFRS within specified timeframes. The actuary of PFRS calculates the employer's liability, and if the remitted value is insufficient, the employee must cover the difference.

New Jersey S1897 allows law enforcement officers to transfer from PERS to PFRS and mandates enrollment in PFRS for all officers.

New Jersey S1897 permits law enforcement officers currently enrolled in the Public Employees' Retirement System (PERS) to transfer to the Police and Firemen's Retirement System (PFRS). It requires all law enforcement officers to enroll in PFRS, with an option to waive PFRS benefits and remain in PERS. The bill mandates the Public Employees' Retirement System to remit all accumulated deductions and employer obligations to PFRS within specified timeframes. The actuary of PFRS calculates the employer's liability, and if the remitted value is insufficient, the employee must cover the difference.