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NJ S2585
Bill
Status
Introduced
1/13/2026
Primary Sponsor
Vin Gopal
Click for details
AI Summary
- Allows active PERS members who were in NJ Transit's Transit Employees' Retirement Program (TERP) on or before July 30, 2006 to receive service credit in PERS
- Credits one year of PERS service for every 3.5 years of TERP service, including partial years
- Requires transfer of all accumulated member contributions with interest and employer actuarial reserves from TERP to PERS for the credit to apply
- No additional contributions from members or employers required once the fund transfer is complete
- Members who withdrew their TERP contributions, cannot complete the fund transfer, or have vested TERP retirement benefits are ineligible for this service credit transfer
Legislative Description
Provides service credit for PERS member for former membership in transit retirement program.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
1/13/2026
Committee Referrals
State Government, Wagering, Tourism & Historic Preservation1/13/2026
Full Bill Text
No bill text available