Allows law enforcement officers in PERS to transfer to and enroll in PFRS; requires all law enforcement officers to be enrolled in PFRS.

This bill allows current New Jersey law enforcement officers enrolled in the Public Employees' Retirement System (PERS) to transfer to the Police and Firemen's Retirement System (PFRS) by formally waiving their PERS benefits within 90 days. It requires all new law enforcement hires to enroll directly in PFRS from their start date. The bill mandates that PERS transfer accumulated employee contributions and employer funds to PFRS within 120 days, with additional payments to address any shortfall in retirement credit. Officers who transfer will pay contributions and receive benefits under PFRS rules, while those who don't transfer remain in PERS.