PFRS Pension Takeover Update
Dear Brothers & Sisters,
The Pension Governance Bill, which transfers management of Police and Firemen’s Retirement System (PFRS) from the Division of Pensions and Benefits in the Department of the Treasury to a new Board of Trustees of the PFRS, passed in the State Senate and Assembly this afternoon. It is now is headed to Governor Phil Murphy's desk.
If the Governor signs the bill into law, the PFANJ and the other unions will have a direct role in ensuring the stability of the pension system for the all active and retired members of the PFRS.
We will keep you all informed as news about this continues to develop.
Fraternally and united,
Dominick Marino, President
Professional Firefighters Association of New Jersey