New Jersey S 3589: Allows certain members of PFRS to serve until age 70 upon approval by municipal governing body.

Bill Text

S3589 

SENATE, No. 3589 

STATE OF NEW JERSEY

222nd LEGISLATURE

� 

INTRODUCED FEBRUARY 19, 2026

Sponsored by:

Senator� JAMES BEACH

District 6 (Burlington and Camden)

SYNOPSIS

���� Allows certain members of PFRS to serve until age 70 
upon approval by municipal governing body. 

CURRENT VERSION OF TEXT 

���� As introduced.

�� 

An Act 
extending the mandatory retirement age in the Police and Firemen's Retirement 
System of New Jersey in certain circumstances and amending P.L.1944, c.255.

���� Be It Enacted by the Senate and General Assembly of 
the State of New Jersey:

���� 1.��� Section 5 of P.L.1944, 
c.255 (C.43:16A-5) is amended to read as follows:

���� 5.� (1) Any member in service 
who has attained age 55 years may retire on a service retirement allowance upon 
filing a written and duly executed application to the retirement system, 
setting forth at what time, not less than one month subsequent to the filing 
thereof, he desires to be retired.� Any member in service who attains age 65 
years shall be retired on a service retirement allowance forthwith on the first 
day of the next calendar month, except that a member hired prior to January 1, 
1987 may remain a member of the system until the member attains age 68 years or 
25 years of creditable service, whichever comes first, and a member who 
holds employment in a municipal law enforcement unit in an administrative 
position may remain a member of the system until the member attains age 70 
years if the member is retained in service by the governing body of the 
municipality and written notice of that decision is provided to the board of 
trustees prior to the attainment by the member of age 65 years.

���� (2) Upon retirement for 
service a member shall receive a service retirement allowance which shall 
consist of:

���� (a) An annuity which shall be 
the actuarial equivalent of his aggregate contributions and

���� (b) A pension in the amount 
which, when added to the member's annuity, will provide a total retirement 
allowance of one-sixtieth of his average final compensation multiplied by the 
number of years of his creditable service, or 2% of his average final compensation 
multiplied by the number of years of his creditable service up to 30 plus 1% of 
his average final compensation multiplied by the number of years of creditable 
service over 30, or 50% of his final compensation if the member has established 
20 or more years of creditable service, whichever is greater.

���� (3) (a) Any member of the 
retirement system as of the effective date of P.L.1999, c.428 who has 20 or 
more years of creditable service at the time of retirement shall be entitled to 
receive a retirement allowance equal to 50% of the member's final compensation 
plus, in the case of a member required to retire pursuant to the provisions of 
subsection (1) of this section, 3% of final compensation multiplied by the 
number of years of creditable service over 20 but not over 25.

���� (b) Any member of the 
retirement system who was enrolled prior to the effective date of P.L.2021, 
c.52 and who is a member on that effective date may retire on or after the 
effective date of P.L.2021, c.52 but no later than the first day of the 61st 
month following that effective date on a service retirement allowance, 
regardless of age, upon attaining 20 or more years of creditable service and 
shall be entitled to receive a service retirement allowance equal to 50% of the 
member's final compensation.

���� (4) Upon the receipt of proper 
proofs of the death of a member who has retired on a service retirement 
allowance, there shall be paid to his beneficiary an amount equal to one-half 
of the compensation upon which contributions by the member to the annuity 
savings fund were based in the last year of creditable service.

(cf: P.L.2023, c.92, s.1)

���� 2.��� This act shall take 
effect immediately.

STATEMENT

���� Under current law, a member of 
the Police and Firemen's Retirement System of New Jersey (PFRS) must retire 
upon reaching 65 years of age.� This bill would allow a member holding an 
administrative position to stay until age 70 if the governing body of the 
municipality retains the member in service and if such a decision is 
communicated in writing to the PFRS board of trustees before the member turns 
65.� For a primarily administrative position, the physical rigors of the job 
are less than for other police positions, and longevity in the position is an 
asset, not a liability. Therefore, it is appropriate to give the governing body 
of the municipality the discretion to allow an effective employee to continue 
in service beyond the current mandatory retirement age.�