News


EDISON – New Jersey State Policemen's Benevolent Association President Patrick Colligan today released the following statement on Governor Christie’s proposal in his Budget Address to dedicate lottery funds to help fund the state’s pension obligation:

“Governor Christie’s proposal today is a good first step for our members.  We recognize that the Budget Address is a launching point for negotiation between the Governor and the Legislature, but we believe the dedication of lottery funds to help meet the State’s pension funding obligation is a start.  We look forward to the state fulfilling its long-standing obligation to fund the PFRS and providing our 33,000 members the pensions they have earned.”

This is a must read! Phil Murphy is certainly beyond qualified to comment on this issue and offer some expert advice to our NJ Division of Pension Investment Managers. 

Read Article Here

President Colligan discusses the  pension ruling and the future plans of the State PBA regarding PFRS on NJTV'S "On the Record"

Click Here to View Video

 

As PBA members are aware, the State PBA successfully lobbied for a law in 2000 to create parity in certain pension benefits with the State Police Retirement System, including permission for a member to retire at 20 years of service with a 50% benefit (20 and out). The law was implemented without question until a recent State AG/Division of Pensions change in interpretation severely limited access to the law for anyone hired after January 2000.
 
The State PBA, through our PFRS Trustees, have been debating this change of interpretation with the Division. But the State PBA, as the group that drafted the original language the law is based on, has taken the dispute back to the Legislature.
 
Senator Diane Allen (R-7), who was prime sponsor of the original law containing 20 and out language, recently joined the State PBA in expressing opposition to State's change in implementation of the law. As such, she has written the attached letter to the Division opposing their incorrect analysis of the law.
 
The State PBA is grateful to Senator Allen for standing behind a law we worked hard with her to pass so many years ago. The State PBA will update members when we receive an update on our efforts here.

View Senator Diane Allen (R-7) Letter To Division Here

The State Attorney General and Division of Pensions have informed the PFRS Board of Trustees that they are interpreting the 1999 law providing a “20 and Out” retirement option to apply only to members who were in PFRS on January 18, 2000.  The State PBA, as the organization that designed the law, vigorously disagree with the State’s analysis.  As such, we are working with the sponsor of the law to demand that the State provide the “20 and Out” benefit as intended to apply to every PFRS member beginning in January 2000 regardless of when they enrolled in the  System.
 
The State PBA, however, is urging members to not purchase any time for the purpose of qualifying for this law if they became PFRS members AFTER January 18, 2000 until the State PBA and the law sponsor are able to overturn the State’s misinterpretation.
 
PBA members will be updated as the situation develops.