Provides TPAF members and certain retirees same benefits provided to members enrolled in retirement system before July 1, 2007.

This bill (S 3998) standardizes benefits for New Jersey teachers' pension members by removing tiered eligibility. It requires all current non-retired members of the Teachers' Pension and Annuity Fund (TPAF) to receive the same benefits as those enrolled before July 1, 2007, effectively moving everyone to "Tier 1" benefits. Public employees meeting salary minimums but not hour requirements will be enrolled in TPAF, and current Defined Contribution Retirement Program (DCRP) members can transfer service credit to TPAF (without transferring contributions) to qualify for retirement benefits. Changes apply only to retirement applications processed after the bill's effective date.