NJ S1272

Eliminates membership tiers in New Jersey's Public Employees' Retirement System (PERS), transferring all current non-retired members to "Tier 1" status with benefits equivalent to those who enrolled before July 1, 2007.

Expands PERS eligibility to public employees who meet minimum salary requirements but currently fall short of minimum work hour thresholds, with employers required to process compulsory enrollment within 60 days.

Allows current Defined Contribution Retirement Program (DCRP) participants to transfer to PERS with automatic service credit transfer; transferred service credit counts toward retirement eligibility and health benefits but not pension benefit calculations.

DCRP participants receiving transfer notices have six months to opt out and remain in the DCRP; prior DCRP contributions stay in that program's fund rather than transferring to PERS.

Members currently receiving long-term disability insurance under PERS become eligible to apply for ordinary or accidental disability retirement within two calendar years of enactment.