New Jersey lawmakers are contemplating a invoice that may permit a handful of public officers to re-enroll within the pension system after being kicked off when elected to a brand new workplace.
State Senate President Stephen Sweeney, a Democrat, says the invoice corrects an oversight within the 2007 regulation that established a 401(okay)-fashion retirement plan for newly elected officers. He says the regulation was not meant to focus on officers who moved to a different public workplace.
The Senate’s finances committee superior the invoice on Thursday.
Republican Sen. Kristin Corrado opposed the invoice, saying legal guidelines should not be made to profit a choose few.
Sweeney says the small variety of beneficiaries means it would not add vital prices to the troubled pension program.
Camden Mayor Dana Redd can be among the many officers who would profit.