Pensions and Benefits

Legislature Passes Pension and Benefit Reduction Bills

After a long day of political posturing and maneuvering, the Assembly voted on March 22 to pass the three NJEA-opposed pension and benefits bills that the Senate passed in February. With only one amendment to the pension bill (A-2461/S-2), all three bills (See below for links to specific bills) passed by substantial margins. More

• S-2 – Seeking changes in Pensions
• S-3 – Seeking changes in Health Benefits
• S-4 – Seeking changes in Sick Leave and Disability
• SCR-1 – Seeking a Constitutional Amendment requiring gradual “ramp-up” to fund pension systems 
• See how your legislators voted 
  

Video: Keep the Promise

We know what we need to do to protect our pension fund - make sure legislators keep the promise to public school employees. But how did we get here? Watch this video to learn more.  
 

Articles/NJEA Releases/Statements

• NJEA full-page newspaper ad (2/28/10)
• NJEA launches radio blitz (2/22/10)
• NJEA Fires back - Statement by NJEA President Barbara Keshishian (2-9-10)
• N.J. pension, health changes sail through Senate - Philadelphia Inquirer (2-23-10)
• Bills target public employee costs – The Ridgewood News (2-12-10)
• NJ Lawmakers Propose Pension and Health Benefit Cuts - Plansponsor.com (2-9-10)
• Feb. 8 Message to Members
• Feb. 7 Message to Members
• Pension bills to be filed -Newark Star-Ledger (2-7-10) 
   
  

Resources

Who’s funding our pensions – and who isn’t? – an informative chart you can print and distribute!

• Pensionomics
  Measuring the Economic Impact of State and Local Pension Plans
• Pensionomics
  Key findings for New Jersey
• Public Pension Resource Guide 
  Facts and data on the important role that public pensions play in our economy
• Public Pension Basics 
  Defined Benefit Plans Fact Sheet
• Why Do Pensions Matter? 
  Characteristics of Defined Benefit Pension Plans that make them attractive to employees, employers, taxpayers, local economies and capital markets
• Who Has a Pension? 
  Statistics on how many Americans rely on pensions and recent pension trends
• Pensions by the Numbers 
  Statistics on average pension amounts and how employees value their pensions
• Strong Public Pensions for Today and Tomorrow 
  Aspects of Defined Benefit Plan management – funding, investment and benefit policies
• Frequently Asked Questions about Pensions 
• Glossary

Pension Calculators

• TPAF
• PERS