NJ S211

Reinstates automatic cost-of-living adjustments (COLA) for retirement benefits of members in New Jersey's State-administered retirement systems, including the Teachers' Pension and Annuity Fund, Public Employees' Retirement System, and Police and Firemen's Retirement System.

Removes language from P.L.2011, c.78 that suspended automatic COLA and made it contingent on committees activating the Pension Adjustment Act only after reaching target funded ratios.

Deletes provisions that gave oversight committees discretionary authority to activate COLA and set the duration and extent of adjustments based on funding levels.

Maintains committee authority to modify other pension parameters such as contribution rates, retirement age eligibility, disability benefits, and final compensation calculations once target funded ratios are met.