Governor Murphy today signed into law legislation extending the 20 and Out benefit for 3 more years. As previously reported the bill was conditionally vetoed by the Governor to give the pension board more time to study the financial impact of the benefit. However, the Governors veto language confirms that at the PFRS Board of Trustees has the power to make the benefit permanent in the future.
Members considering retirement should consult with PFRS staff and MBOS for the date for reinstatement of the benefit option online.
The bill was a major priority for the State PBA. Special thanks to Senator Gopal and Assemblyman DeAngerlo for their sponsorship and forceful advocacy to get the bill done before the summer recess.