Tag: Police and Fire Retirement System

Gov. Murphy Conditionally Vetoes PFRS Reform Legislation

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

Bill Transfers Transfer Management of PFRS to Board of Trustees 

Bill Transfers Transfer Management of PFRS to Board of Trustees 

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