Requires spousal consent to election of certain pension payout options under TPAF, JRS and PERS.

This bill (A2207) requires written spousal consent before certain retirement benefit elections take effect for members of New Jersey's Teachers' Pension and Annuity Fund (TPAF), Judicial Retirement System (JRS), or Public Employees' Retirement System (PERS). It applies when a member chooses a payout option that either pays only during their lifetime (with no spouse benefit) or provides less than half the retirement allowance to the spouse for life. The consent must be in writing, witnessed by a pension official or notary, and acknowledge the election's effect. Exceptions exist if a spouse cannot be located, there is no spouse, or other circumstances are documented by the pension system.