Why Pension Justice?
For generations, New Jersey educators have paid into pension systems that are supposed to help support them in retirement after a career in public education. But for too many NJEA members, especially those hired in 2011 or after, reaching full pension eligibility no longer seems possible because of draconian changes made by Ch. 78 during the Christie administration.
Today, nearly half of all NJEA members are in Tier 5 of TPAF or PERS and that number grows every year. Members in Tier 5 must work far longer for a lower total pension, with harsh penalties for retiring before age 65, even for those who have 25+ years in the pension system.
Still other members are excluded altogether from TPAF and PERS and are forced into a savings plan called DCRP that provides no guaranteed income in retirement and no access to post-retirement medical benefits.
Calling all NJEA members: Let’s talk about pension justice!
NJEA’s officers are holding a series of four meeting across the state that are open to any member. Accompanied by NJEA’s Executive Director and Deputy Executive Director, they will lead a discussion on the urgent need for pension justice and the work we need to do together to achieve it.
The meetings are regional, but members should choose the date and location that is most convenient. All meetings are from 4 -6 p.m. The presentation will take place from 4:30-5:30 p.m., with a light meal and opportunities for further discussion available before and after.
We look forward to seeing you there and to working together to achieve pension justice for all NJEA members.
Pension Justice webinar for ESP members
NJEA is hosting a webinar specifically designed for ESP members who are in the PERS or DCRP pension systems. Learn about those pension plans and how you can be part of the fight for stronger, more secure pensions for ALL NJEA members.
Resources
- Pension Justice! What happens if I leave in education prior to being eligible for retirement?
- Pension Justice! When can I retire and how is my benefit calculated?
- Palm Cards - Please contact your UniServ office to order these cards
- Slideshow: Understanding pension tiers and DCRP
- DCRP for members not eligible for TPAF & PERS
- What is DCRP and how does it affect the pension system?
- How the Pension System DIVIDES Us
- Pension Justice: Governor Murphy puts 4th FULL Pension Payment in the 2024-2025 Budget
- Pension Justice: Equity, Security, Dignity
- Facts you need to know about NJ's Pension System