Posted on: December 23, 2019
On Monday, the General Assembly approved A-6024. This bill, along with its Senate companion S-4297 would create an additional category of service retirement for Police Fire Retirement System (PFRS) employees. Under the bill, a PFRS emplo...
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Pension & Benefits
Posted on: October 11, 2019
At its October 7 meeting, the Police and Fire Retirement System (PFRS) Board of Trustees appointed Gregory Petzold as the new Executive Director at an annual salary of $225,000. Petzold is currently the Deputy Chief of Staff of Intergovernmental Affairs i...
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Pension & Benefits
Posted on: September 24, 2019
As noted in the Path to Progress Report, “the State’s combined pension and retiree health benefit liabilities of $151.5 billion are four times the size of the State’s annual budget; and more than three times the size of the State’s bonded debt. That publi...
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Pension & Benefits
Posted on: September 13, 2019
At the September 9 Police and Fire Retirement System (PFRS) board meeting, as a matter of routine business, the Board considered the creditable compensation of three Atlantic City police officers. The three officers, with various ranks, honorably retired ...
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Pension & Benefits
Posted on: September 13, 2019
The Division of Pensions and Benefits has released the 2020 pension bills for both the Public Employee Retirement System (PERS) and Police and Fire Retirement System (PFRS). The PERS employer contribution for 2020 is 13.69% compared to 14.11% in 2019. For...
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Pension & Benefits
Posted on: July 30, 2019
Last week, Governor Murphy signed into law A-3766, which requires a public officer or employee to forfeit their pension upon a conviction for corruption of public resources, sexual contact, lewdness, or sexual assault when the offense involves or touch up...
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Pension & Benefits
Posted on: July 15, 2019
At the July 8 Police and Fire Retirement System (PFRS) board meeting, the Board unanimously hired Robert Garrison as in-house legal counsel and appointed existing Division of Pensions staff to various positions needed to run the day-to-day operations of t...
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Pension & Benefits
Posted on: June 3, 2019
As noted in the Path to Progress Report, “the State’s combined pension and retiree health benefit liabilities of $151.5 billion are four times the size of the State’s annual budget; and more than three times the size of the State’s bonded debt. That publi...
Read on...
Pension & Benefits