News Flash

Home

Posted on: December 18, 2020

Senate Passes PFRS 20 and Out Legislation

On Thursday, the Senate unanimously passed S-1017, which permits a PFRS employee who is enrolled before or after the bill's effective date to retire, regardless of age, upon attaining 20 or more years of service credit and would allow that employee to receive a retirement allowance equal to 50% of the member's final compensation. This benefit will expire after two years after enactment. The Assembly companion, A-2562, now awaits consideration by the Assembly Budget Committee.

As we previously reported, the League, along with the New Jersey Association of Counties, view this legislation as an enhancement of benefit at a time we can least afford it. The public safety unions are pushing this legislation in response to what they believe is a misinterpretation of the 1999 law and argued that the cost will be offset by the healthcare savings.

Funded by property taxpayer dollars, county and municipal governments across the State spent $1,038,351,129 in 2020 to subsidize the PFRS, while PFRS members contributed approximately $348,439,976 to the defined benefit plan. In other words, property taxpayers will have financed over 70% of PFRS in 2020, while PFRS members will pay 30%. Since these additional costs will be borne by taxpayers, the League opposes this legislation.

 Please contact your Assembly representative and urge them to vote no A-2562.

Contact: Lori Buckelew, Assistant Executive Director, lbuckelew@njlm.org, 609-695-3481 x112.

Facebook Twitter Email

Other News in Home

State FY 22 Budget Introduced

Posted on: June 24, 2021

S-1 Passes Senate

Posted on: June 14, 2021

S-1 Passes Senate

Posted on: June 14, 2021

DLGS Posts Portal for ARP Funding

Posted on: June 14, 2021

Act Now: Resolution on Bag Ban

Posted on: May 18, 2021

Shuttered Venue Operator Grants

Posted on: April 30, 2021

New Jersey SFY 2022 Budget Update

Posted on: April 30, 2021

Week of April 19: COVID-19 Update

Posted on: April 27, 2021

Week of March 29 COVID-19 Update

Posted on: April 1, 2021

Cannabis Legalization Deadlines

Posted on: March 26, 2021

Local Part PERS Legislation Advances

Posted on: March 26, 2021

Week of March 22: COVID-19 Update

Posted on: March 26, 2021

Legislative Preview: Week of March 15

Posted on: March 15, 2021

Cannabis Briefing March 18

Posted on: March 15, 2021

Week of March 8: COVID Update

Posted on: March 15, 2021

Legislative Preview: Week of March 8

Posted on: March 9, 2021

Wear Your Pearls for WIMG Movie Night

Posted on: March 10, 2021

American Rescue Plan Overview Webinar

Posted on: March 10, 2021

Week of Feb. 22: COVID-19 Weekly Update

Posted on: February 26, 2021

Feb. 26, 2022 Cannabis Update

Posted on: February 26, 2021

FY 2021 State Budget-Municipal Interest

Posted on: February 24, 2021

Legislature Preview: Week of February 22

Posted on: February 22, 2021

Gov. Murphy Signs Legalization Legislation

Posted on: February 22, 2021

LEAP Challenge Grant Deadline Approaching

Posted on: February 16, 2021

Expanded Earned Income Tax Credit Program

Posted on: February 16, 2021

Amended Shared Service Bill S-1 Advances

Posted on: February 16, 2021

Week of February 8: COVID-19 Update

Posted on: February 16, 2021

Congressional Activity on SALT Deduction

Posted on: February 1, 2021

Marijuana Legalization Update

Posted on: February 1, 2021

Week of January 24: Covid-19 Update

Posted on: February 1, 2021

Week of January 18: COVID-19 Update

Posted on: January 22, 2021

COVID-19 Update: Week of January 4

Posted on: January 11, 2021

Governor Signs Tax Incentive Legislation

Posted on: January 11, 2021

Cannabis Clean Up Legislation Held

Posted on: January 11, 2021

Larger Stimulus Checks Unlikely

Posted on: January 4, 2021

Federal Update and Further Stimulus

Posted on: December 30, 2020

COVID Relief & Omnibus Bill Passed

Posted on: December 28, 2020

Week of December 21 COVID-19 Update

Posted on: December 28, 2020

Week of December 14: COVID-19 Update

Posted on: December 18, 2020

Tax Incentive Legislation Moving Quickly

Posted on: December 18, 2020

Covid-19 Update: Week of December 6

Posted on: December 14, 2020

Cannabis Legislation Advancing

Posted on: December 14, 2020

Small Cell Regulation Bill Advances

Posted on: December 14, 2020

LFN Issued on UCC Enforcement

Posted on: December 10, 2020

AG Issues Marijuana Charge Guidance

Posted on: December 10, 2020

Law Requires Use of Body Cameras

Posted on: December 2, 2020

Gov. Murphy Signs Plastic Ban into Law

Posted on: November 11, 2020

2019 Senior Freeze Deadline Extended

Posted on: November 2, 2020

Hospital Propety Tax Bill Held from Vote

Posted on: November 2, 2020

Vegetation Management Bill Advances

Posted on: September 21, 2020

Hospital Property Tax Bill Advances

Posted on: September 21, 2020

Governor Takes Action on Bills

Posted on: September 21, 2020

MIllioniares' Tax to Bolster State Budget

Posted on: September 21, 2020

State Budget Deliberations Begin

Posted on: September 11, 2020

Final NJ Census Push in Full Swing

Posted on: September 9, 2020

Census 2020- Time Is Running Out

Posted on: September 8, 2020

Proposed Budget Holds ETR/CMPTRA Level

Posted on: August 25, 2020

Week of August 17: COVID-19 Update

Posted on: August 25, 2020

Local Aid Crucial for Economic Recovery

Posted on: August 25, 2020

Week of August 10: COVID-19 Update

Posted on: August 14, 2020

Time is Running Out for the 2020 Census

Posted on: August 14, 2020

Week of August 2: COVID-19 Update

Posted on: August 9, 2020

COVID-19 Research Volunteers Needed

Posted on: August 6, 2020

Storm Update from NJBPU

Posted on: August 5, 2020

Week of July 27: COVID-19 Update

Posted on: August 5, 2020

Week of July 13: COVID-19 Update

Posted on: July 19, 2020

Murphy Ok's COVID-19 Borrowing Bill

Posted on: July 19, 2020

Interim State Budget Enacted

Posted on: July 6, 2020

Bridge Budget Bill Introduced

Posted on: June 26, 2020

Gov. Takes Action on Legislation

Posted on: May 18, 2021