TRENTON, NJ -- Under a measure sponsored by Assemblyman Wayne DeAngelo, all members of the Police and Firemen’s Retirement System (PFRS) would receive their annual retirement benefit of 50 percent of their final compensation after 20 years of service regardless of enrollment date or age at retirement.
“Police and firefighters work tirelessly to protect our communities from harm. Every first responder in the PFRS system deserves the same retirement benefits after 20 years, no matter when they retire or enroll in the system. Unfortunately, under rules established by the Christie administration, that is not the case today. This bill will restore parity and fairness, and ensure our dedicated first responders are taken care of in their retirement years," said DeAngelo.
Under current law, police officers and firefighters hired after 1999 must be at least 55 years old to retire and receive a pension equal to half of their final pay.
The measure was approved by the full New Jersey General Assembly on Monday, December 16 and now goes to the State Senate for further debate.
The change would apply to PFRS looking to retire after the date when the measure becomes law.
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