New Jersey S2383 allows members of PERS, TPAF, PFRS, and SPRS to purchase credit for their enrollment period at a military service academy.
New Jersey S2383 amends existing law to allow members of the Public Employees’ Retirement System (PERS), Teachers’ Pension and Annuity Fund (TPAF), the Police and Firemen’s Retirement System (PFRS), and State Police Retirement System (SPRS) to purchase credit for their enrollment period at a military service academy. This purchase can be made by paying into the annuity savings fund the required amount based on the member's age and salary at the time of purchase. The purchase can be made in regular installments over a maximum period of 10 years.
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