NJ S4967

Fourth class cities (seaside resort cities bordering the Atlantic Ocean) may close their existing lifeguard pension plans to new entrants after the bill's effective date

Active and retired members in closed plans retain eligibility for benefits, but cities may modify or terminate benefits for active members with less than 10 years of service

Members who do not qualify for a pension will receive a refund of all accumulated deductions plus regular interest

Fourth class cities that have not yet established a lifeguard pension plan are no longer required to create one

Current retirement eligibility requires 20 years of service, age 45, and 10 years of continuous service immediately preceding retirement for half-pay benefits; members contribute 4% of salary and employers contribute 4% of total lifeguard salaries to the fund