News Flash

Posted on: July 30, 2019

Pension Forfeiture Bill for Sexual Assault Convictions Signed into Law

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

Recap of the July PFRS Board Meeting

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

Path to Progress’ Pension Hybrid Plan

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: February 15, 2019

DLGS Issues Guidance on LOSAP Annual CPI Adjustment

The Division of Local Government Services has issued Local Finance Notice 2019-03 providing general information regarding the Length of Service Awards Program (LOSAP) along with the annual cost of living adjustment to the maximum award amounts. The increa...

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Pension & Benefits