A1168

Reinstates automatic COLAs for retirement benefits of certain PFRS members.

New Jersey A1168 reinstates automatic cost-of-living adjustments (COLAs) for annual pension, ordinary disability pension, and accidental disability pension benefits for certain members of the Police and Firemen’s Retirement System (PFRS). The bill applies to members who have been retired and receiving retirement benefits for a minimum of ten years. Members who are hired more than 30 days following the effective date of this act will not be considered eligible.