Makes local government business administrators eligible for memberships in PERS; provides for transfer of business administrators from participation in Defined Contribution Retirement Program to membership in PERS.

This bill (S 2407) changes retirement eligibility for local government business administrators in New Jersey. It makes these administrators eligible to join the Public Employees’ Retirement System (PERS) instead of remaining in the Defined Contribution Retirement Program. Specifically, it allows business administrators who were previously enrolled in the Defined Contribution Program to transfer their membership to PERS. This applies to individuals holding this role in local government positions as defined by the bill. The policy change directly affects local government business administrators by altering their retirement system enrollment.