Decreases number of years of creditable service required for special retirement for certain members of PFRS.

This New Jersey bill allows firefighters in the Police and Firemen's Retirement System to retire early with full benefits after fewer years of service than previously required. Specifically, it reduces the creditable service requirement from 25 years to 20 years for all eligible firefighters, and further lowers the threshold to 15 years for those aged 50 and older. The legislation is based on findings that firefighters face unique health risks from carcinogens and high-stress environments, making early retirement a measure to reduce long-term health complications. By enabling these earlier retirements, the bill aims to lower disability claims and municipal healthcare costs while providing financial security to aging workers.