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 close existing life guard pension plans to new employees while modifying certain existing pension benefits. It makes it optional for cities to create new life guard pension plans (previously required), giving municipalities flexibility in how they structure retirement benefits for this specific workforce. The changes directly affect current life guard members (whose benefits may be adjusted) and future life guards (who may not qualify for existing plans). Key provisions include permitting cities to stop enrolling new members into current pension systems and establishing that new plans are not mandatory. The bill amends existing pension statutes without altering the core benefit calculations for currently enrolled members.