Please ensure Javascript is enabled for purposes of website accessibility NJ police, firefighters can retire early under new law. What to know | #retirement | #elderly | #seniors – Active Lifestyle Media

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Retirement NewsNJ police, firefighters can retire early under new law. What to know | #retirement | #elderly | #seniors

NJ police, firefighters can retire early under new law. What to know | #retirement | #elderly | #seniors

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About 7,600 police and firefighters in New Jersey with 20 years of service are now eligible to retire early under a so-called burnout bill Gov. Phil Murphy signed into law Monday.

The law allows first responders to retire after two decades of work, regardless of their age, and collect a pension equal to 50% of their salary. Previously police and firefighters could only collect the pension if they were also 55 years old.

Public safety workers are immediately eligible to retire under the law, which has an expiration date in two years. Lawmakers limited the period of eligibility after critics of the legislation raised concern about how much it could cost local governments.

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