New Jersey S2407 makes local government business administrators eligible for membership in the Public Employees’ Retirement System (PERS).

New Jersey S2407 amends the state's retirement system laws to make local government business administrators eligible for membership in the Public Employees’ Retirement System (PERS). Previously, these administrators were required to participate in the Defined Contribution Retirement Program (DCRP). The bill allows business administrators who are currently participating in the DCRP to transfer to PERS. To receive full PERS credit for their service, the business administrator and their employer must pay the required contributions and costs.

New Jersey S2407 makes local government business administrators eligible for membership in the Public Employees’ Retirement System (PERS).

New Jersey S2407 amends the state's retirement system laws to make local government business administrators eligible for membership in the Public Employees’ Retirement System (PERS). Previously, these administrators were required to participate in the Defined Contribution Retirement Program (DCRP). The bill allows business administrators who are currently participating in the DCRP to transfer to PERS. To receive full PERS credit for their service, the business administrator and their employer must pay the required contributions and costs.