NJ S3997

All current non-retired members of the Public Employees' Retirement System (PERS) would receive the same benefits as "Tier 1" members who enrolled before July 1, 2007, eliminating the multiple membership tiers created by laws enacted between 2007-2011

Public employees who meet minimum salary requirements but not current minimum work hour requirements would become eligible for PERS enrollment, with employers required to process compulsory enrollment within 60 days

Participants in the Defined Contribution Retirement Program (DCRP) would be automatically enrolled in PERS with their service credit transferred, though they may opt out within six months of receiving notice

Transferred DCRP service credit would count toward retirement and health benefit eligibility but would not be used to calculate pension benefit amounts; prior DCRP contributions would remain in that program's fund

PERS members currently receiving long-term disability insurance would become eligible to apply for disability retirement within two calendar years of the bill's enactment