True Independence for Firefighters and Police Officers
The PFRS transfer from State control to the control of the stakeholders of the PFRS was completed on July 5th, 2019. Fittingly one day after our Nation celebrated our Independence from British rule. The days of the PFRS pension fund being raided are over, we can say with confidence that every decision made will be made for the betterment of the fund and the goal is to restore the health of a fund that was once 100% funded in the early 2000's.
The leadership of the NJ FMBA and other Police and Fire Unions worked tirelessly to ensure that the future of our pension fund and the retirement security that we were promised when we signed up for this profession remains in tact. Our executive board, headed by President Ed Donnelly, along with our PFRS Rep Matt Lubin, continues to work on the transition and are focused on the search for the Executive Director and Chief Investment Officer over the next coming weeks. The transition will not happen overnight, and the hard work that has been done over the last several years will soon begin to reap the benefits but in the meantime, let us trust our leadership and support them as they continue to fight for our members and the financial security of our retirement system.