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Reinstates automatic COLA for retirement benefits of members of the State-administered retirement systems. CURRENT VERSION OF TEXT. Introduced Pending Technical Review by Legislative Counsel.
New Jersey S1491. Reinstates automatic COLA for retirement benefits of members of the State-administered retirement systems.
10 lip 2024 · Most of NJ budget’s $7B allotment to public-worker pension system will go to make up for previous underfunding. Among the biggest-ticket items in the record-high state budget enacted by Gov. Phil Murphy earlier this month is another significant payment into New Jersey’s beleaguered public-worker pension system.
5 lut 2024 · SYNOPSIS. Requires cost of living increase to be granted in each of two State fiscal years when retirement allowance or benefit is below certain amount for retiree or beneficiary in PERS, TPAF, PFRS, SPRS, and JRS; makes appropriation. CURRENT VERSION OF TEXT. As introduced.
1 sty 2024 · Requires cost of living increase to be granted in each of two State fiscal years when retirement allowance or benefit is below certain amount for retiree or beneficiary in PERS, TPAF, PFRS, SPRS, and JRS; makes appropriation.
12 kwi 2022 · But as inflation has surged amid the COVID-19 pandemic — the 12-month rate reached nearly 8% as of the end of February, according to the latest data collected by the federal government — lawmakers have begun taking a new look at how frozen COLAs are affecting state pensioners.
1 lis 2023 · Due to a change between valuation year and contribution year from three years to two years, the 2012 contribution rate is now based on 2010 instead of 2009. P.L. 2011, c. 78 suspended cost-of-living adjustments (cola) for all current and future retirees.
