News
PFRS Board Update: The Future of Firefighter Pensions in New Jersey
The health and management of the Police and Firemen's Retirement System (PFRS) continues to be a top priority for New Jersey's first responders. At the March 2025 NJFMBA meeting, PFRS representative Matt Lubin provided a comprehensive update on the pension system's status and future direction.
Perhaps the most encouraging news is the improvement in the PFRS funded ratio, which has increased to 72.0% for the local plan, up from 71.5% previously. While the state plan remains significantly lower at 42.2% (up from 41%), both are moving in the positive direction. This discrepancy reflects the legacy of years when the state failed to make required contributions, creating a substantial funding gap that is only gradually being addressed.
Understanding the Social Security Fairness Act: A Victory for NJ Firefighters
A significant legislative victory for retired firefighters is making a real difference in their financial lives. The Social Security Fairness Act, strongly supported by the New Jersey State Firefighters Mutual Benevolent Association (NJFMBA), has resulted in substantial retroactive payments and increased monthly benefits for retirees.
During the March 2025 NJFMBA meeting, President Ed Donnelly highlighted the impact of this legislation, noting that Local 500 retirees had begun receiving retroactive checks. "This was a life-changing piece of legislation for our members," Donnelly remarked. "The monthly check increases are life-changing."
But what exactly is the Social Security Fairness Act, and why is it so important?
Legislative Updates: Key Bills Impacting New Jersey First Responders in 2025
The legislative landscape for New Jersey's firefighters and emergency responders is constantly evolving, with numerous bills under consideration that could significantly impact their work, benefits, and protections. At the March 2025 NJFMBA meeting, Legislative Committee Chair Carlos Mercado provided a comprehensive update on these critical developments.
With the state budget process underway following Governor Murphy's February address, the NJFMBA's legislative team is actively monitoring over 500 bills. "We are the face in Trenton for First Responders," Mercado noted, emphasizing the organization's advocacy role.
Several priority bills are currently advancing with NJFMBA support: