New Jersey Governor Phil Murphy has conditionally vetoed legislation that would transfer the management of the Police and Fire Retirement System (PFRS) to a Board of Trustees. In his veto message, Gov. Murphy proposed several significant changes to Senate Bill No. 5, which are summarized below. Proposed PFRS Reform As discussed in
The New Jersey Assembly recently passed a bill that would allow firefighters with a pre-existing volunteer relationship with their employer to retire from service covered by the Employees’ Retirement System (PERS) or the Police and Firemen’s Retirement System (PFRS) and continue to serve that employer as a volunteer. The legislation, Assembly
The New Jersey Legislature has approved legislation to reform the Police and Fire Retirement System (PFRS) by transferring management to a Board of Trustees. The PFRS bill now awaits consideration by Governor Phil Murphy. As more fully detailed in a prior post, Senate Bill 5/Assembly Bill 3671 (S-5/A-3671) transfers management
New Jersey lawmakers are currently considering legislation that would transfer the management of the Police and Fire Retirement System (PFRS) to a Board of Trustees. Under Senate Bill 3040, the Board of Trustees of the Police and Firemen’s Retirement System would be tasked with overseeing the operation of the retirement
