Permits purchase of service credit in PERS, TPAF, PFRS, and SPRS for period of enrollment in military service academy.

This bill allows members of New Jersey's PERS (Public Employees' Retirement System), TPAF (Teachers' Pension and Annuity Fund), PFRS (Police and Firemen's Retirement System), and SPRS (State Police Retirement System) to purchase service credit for time spent attending military service academies. It specifically permits credit for enrollment periods at the United States Military Academy, Naval Academy, Air Force Academy, or Coast Guard Academy. Members can purchase up to 10 years of credit (with potential for 5 additional years for veterans), paying through installments over a maximum of 10 years. The bill ensures members won't be liable for costs related to pension adjustment benefits or health care when purchasing this credit.