ASSEMBLY BUDGET COMMITTEE

STATEMENT TO

[First Reprint]

ASSEMBLY, No. 5049

with committee amendments

STATE OF NEW JERSEY

DATED:  JUNE 26, 2025

      The Assembly Budget Committee reports favorably and with committee amendments Assembly Bill No. 5049 (1R).

      As amended by the committee, this bill removes certain limitations on the receipt of retirement or death benefits granted to members under the Police and Firemen’s Retirement System (PFRS).

       Pursuant to regulation, the Board of Trustees of PFRS withholds retirement or death benefits if the entitled member is subject to criminal charges, dismissed from public employment due to administrative charges, or the member has pending civil litigation pertaining to the member’s employment.  This bill removes the board’s ability to withhold retirement or death benefits on the basis the entitled member has pending civil litigation.  Under the bill, the board will have the ability to adjust the member’s retirement or death benefits following the disposition of any legal proceeding.

COMMITTEE AMENDMENTS:

      The committee amendments allow the PFRS board to hold a member’s retirement or death benefits in abeyance if the member is challenging a final determination of the board to deny or adjust the member’s benefits through civil litigation.

FISCAL IMPACT:

      Fiscal information for this bill is currently unavailable.