ASSEMBLY, No. 2872
STATE OF NEW JERSEY
DATED: JANUARY 31, 2003
Synopsis: Credits all prior PERS service of county prosecutors in Prosecutors
Part at no additional cost.
Type of Impact: Expenditure increase: State General Fund.
Agencies Affected: Department of the Treasury, Division of Pensions and Benefits.
Fiscal Impact FY 2004 FY 2005 FY 2006
State Cost Unknown-See Comments Below
! The Office of Legislative Services (OLS) concurs with the Executive estimate.
! Provides enhanced pension benefits to certain county prosecutors without further assessment
of cost to the prosecutor.
! This bill is limited to the 21 County Prosecutor positions the appointees for which are eligible
for the Prosecutor Part of the Public Employees' Retirement System (PERS) and appointed
after January 7, 2002.
! The Division of Pensions and Benefits estimates an additional unfunded pension liability of
approximately $33,900 each time a county prosecutor is appointed with prior PERS service.
Assembly Bill No. 2872 of 2002 provides that any service credit established in the Public
Employees' Retirement System (PERS) by a member of that retirement system in any position
prior to service as a county prosecutor — nominated and appointed after January 7, 2002,
pursuant to the provisions of Article VII, Section II, paragraph 1 of the New Jersey State
Constitution — will be established in the PERS Prosecutors Part without further assessment of
cost to the prosecutor.
Office of Legislative Services Legislative Budget and Finance Office
State House Annex Phone (609) 292-8030
P.O. Box 068 Fax (609) 777-2442
Trenton, New Jersey 08625 www.njleg.state.nj.us
The PERS Prosecutors Part was created pursuant to P.L.2001, c.366 (effective January 7,
2002) to provide enhanced pension benefits for county prosecutors and first assistant and
assistant prosecutors; and certain employees of the Division of Criminal Justice in the
Department of Law and Public Safety. This bill does not impact the approximately 1,021 other
positions that have been identified as eligible for Prosecutors Part membership.
The Division of Pensions and Benefits in the Department of the Treasury cannot determine
the fiscal impact of this bill due to the unknown number of county prosecutors who may be
nominated and appointed in future years under the provisions of the New Jersey State
Constitution and who may have prior PERS service.
The division estimates that the State, on average, will incur an additional unfunded pension
liability of approximately $33,900 each time a county prosecutor is appointed with prior PERS
OFFICE OF LEGISLATIVE SERVICES
The Office of Legislative Services (OLS) concurs with the Executive estimate.
Section: State Government
Analyst: James F. Vari
Senior Fiscal Analyst
Approved: Alan R. Kooney
Legislative Budget and Finance Officer
This fiscal note has been prepared pursuant to P.L.1980, c.67.