Allows cities to close existing life guard pension plans to new entrants and modifies certain life guard pension benefits; makes new life guard pension plans permissive.

This bill allows New Jersey cities to stop new lifeguards from joining existing pension plans and modifies certain current pension benefits for lifeguards. It makes it optional for cities to create new pension plans for future lifeguards (instead of requiring them). The changes affect all lifeguards in fourth-class cities and their retirement benefits, including eligibility for pensions after 20 years of service or disability. The bill does not specify exact benefit changes but alters how cities manage these pension funds.