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

This bill (S 2584) allows local government business administrators - such as municipal finance officers - to join New Jersey’s Public Employees’ Retirement System (PERS), a defined-benefit retirement plan. Currently, these roles are excluded from PERS and must use a separate defined-contribution retirement savings plan. The bill specifically amends eligibility rules to include business administrators under PERS membership and permits those already in the defined-contribution plan to transfer to PERS. This change directly affects municipal staff in financial management roles, shifting their retirement coverage from a savings-based system to a guaranteed-benefit plan.