Changes eligibility of Administrative Law Judges from DCRP to PERS.

This bill would change the retirement system for New Jersey's Administrative Law Judges. Currently, these judges participate in the Defined Contribution Retirement Program (DCRP), but the bill would transfer them to the Public Employees' Retirement System (PERS) within 90 days of the bill's effective date. Administrative Law Judges currently in the DCRP would have 30 days to opt out by submitting a waiver to the Division of Pensions and Benefits. The bill specifies that their service credit in the DCRP would transfer to PERS, and the state would cover any unfunded liability for the benefits.