SENATE JUDICIARY COMMITTEE

STATEMENT TO

SENATE, No. 3735

with committee amendments

STATE OF NEW JERSEY

DATED:  FEBRUARY 20, 2025

      The Senate Judiciary Committee reports favorably and with committee amendments Senate Bill No. 3735.

     Under current law, a member of the Police and Firemen’s Retirement System (PFRS) hired on or after January 1, 1987 is required to retire upon reaching the age of 65 years, however P.L.2022, c.9, which took effect April 12, 2022, permitted a member who is a police chief or fire department chief to remain in PFRS and serve until the end of the calendar year in which the chief reaches the age of 67 years under the following circumstances:

     - the member was serving as a chief on the enactment’s effective date of April 12, 2022; and

     - the member attained the age of 65 years during a period commencing on that effective date and ending on the last day of the 24th month next following (April 30, 2024), and the appointing authority approved, in writing, the member’s retention and continued service as chief after the age of 65 years.

     This bill amends P.L.2022, c.9 to reestablish and extend the period of time within which an eligible chief may be able to remain in PFRS based upon when that chief attains the age of 65 years.  Under the bill, this period would now be measured from the original effective date of April 12, 2022 and end on the last day of the 60th month following that effective date (April 30, 2027).

     The requirement that the PFRS Board of Trustees submit a report to the Governor and Legislature regarding the effects on the retirement system by the membership extension for chiefs would be changed to also be just after 60 months following the original law’s effective date to reflect the eligibility of additional chiefs to extend their membership in accordance with the bill.

     The committee amendments to the bill:

     - extend the period of time, by an additional year, during which an eligible police or fire department chief may be able to remain in PFRS and continue service as a chief based upon when that chief attains the otherwise required retirement age of 65 years.