Reinstates automatic COLAs for retirement benefits of certain PFRS members.

This bill reinstates automatic annual cost-of-living adjustments (COLAs) for retirement benefits paid to eligible retired members of New Jersey's Police and Firemen's Retirement System (PFRS). It requires the PFRS board of trustees to restore these COLAs to their previous statutory level without requiring additional contributions from retirees, provided actuarial certification confirms the change won't increase employer costs or jeopardize the system's long-term financial health. The policy directly affects retired police officers and firefighters who receive benefits under the PFRS. The change reverses a prior reduction to these automatic inflation adjustments for this specific retirement system.