Requires transfer of certain participants of DCRP to PERS.

This bill (A4054) transfers specific school district employees from the Defined Contribution Retirement Program (DCRP) to the Public Employees’ Retirement System (PERS). It applies to school employees hired between November 2, 2008, and May 21, 2010, who work over 20 hours weekly but were previously ineligible for PERS due to work-hour rules. The bill requires their enrollment in PERS within 180 days of enactment, granting service credit for benefits eligibility (like health coverage) but not for calculating pension amounts. The state will cover the one-time cost of transferring funds via IRS-compliant trustee-to-trustee transfers, with unfunded liability amortized over 20 years.