Makes local government business administrators eligible for membership in PERS; provides for transfer from Defined Contribution Retirement Program to PERS.

This bill allows local government business administrators (such as municipal managers, township managers, and county administrators) to join the Public Employees' Retirement System (PERS) instead of remaining in the Defined Contribution Retirement Program (DCRP). Current business administrators enrolled in the DCRP will transfer to PERS within 90 days of the bill's effective date, retaining credit for their prior service. The transfer will occur as a tax-compliant trustee-to-trustee move, with PERS covering any resulting financial obligations over a 20-year amortization period. The change applies immediately to all eligible business administrators in New Jersey local government positions.