What does PERS stand for?

PERS stands for Public Employee Retirement System, which is a retirement plan in New Jersey designed for employees of state and local government agencies, including municipal employees. This system provides pension benefits based on factors such as years of service and salary, ensuring that public sector workers have financial security in retirement.

The correct answer highlights the focus on public employees, differentiating it from other possible systems that might involve private employment or serve different purposes, like education or relief. Understanding PERS is crucial for those involved in municipal governance and administration, as it directly impacts the financial planning and benefits management for public workers.