Permits transfer of service credit from PERS to Prosecutors Part of PERS under certain circumstances.

This bill allows prosecutors who were employed before September 24, 2021 (the effective date of a prior law), and are currently active members of the Prosecutors Part of New Jersey's Public Employees' Retirement System (PERS), to transfer service credit they purchased in PERS for prior employment. The transfer applies only to credit purchased on or after September 24, 2021, but before this bill becomes law, and it will be added to the Prosecutors Part without any additional cost to the prosecutor. This change treats the transferred credit as if it had been purchased before the prior law's effective date, simplifying retirement benefit calculations for affected prosecutors.