Governor Murphy’s office has advised us that he will today sign legislation proposed by the State PBA to reinstate the 20 and Out retirement benefit for PFRS members. The State PBA has been actively pushing the Legislature to restore 20 and Out after it was gutted by the Christie Administration. The State PBA, who drafted the bill and selected the sponsors, appreciate the support of the Governor to return fairness to our members retirement options.
We are also grateful to the bills prime sponsors - Senator Gopal, Senator Lagana, Assemblyman DeAngelo, Assemblyman Dancer and Assemblywoman Chaparro - as well as Senate President Sweeney and Speaker Coughlin who prioritized moving the bill at our request.
The legislation will reestablish 20 and Out as a retirement option for PFRS members for the next 2 years. Members who qualify during that time period will receive a pension of 50% of their final salary but with no health benefits. The 2 year window will allow the State PBA, PFRS Board and legislative leaders to study the impact of the retirement benefit on the funded level of the pension system.
At a time when law enforcement has become more hazardous, more stressful and more unappreciated as ever before, this retirement option will give a level of peace of mind to our members who have been “burned out” by the job. The State PBA will continue to prioritize protecting and strengthening the pension and benefit rights available to the law enforcement community in New Jersey and today’s bill signing is just another example of that.