NJ S427

Requires Administrative Law Judges (ALJs) of the Office of Administrative Law within the Department of State to be enrolled in the Workers Compensation Judges Part of the Public Employees' Retirement System (PERS), making membership a condition of employment

ALJs currently participating in the Defined Contribution Retirement Program or standard PERS must be transferred and enrolled in the Workers Compensation and Administrative Law Judges Part within 90 days of the bill's effective date

Establishes contribution rates for ALJs at 6.5% of salary plus an additional 1% phased in over seven years, with service credit transferred from previous retirement program participation

Sets mandatory retirement at age 70 for ALJs, with exceptions allowing judges age 60 or older at the bill's effective date to continue until attaining 10 years of service credit

Provides retirement benefits including 75% of final salary for judges with at least 10 years of service at age 70, 15 years at age 65, or 20 years at age 60, with unfunded liability for ALJ benefits paid through State General Fund appropriations