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Under current law, taxpayers with $150,000 or less in annual income and who are at least 62 years old or disabled may exclude certain pension and retirement income from taxable gross income. For those with between $100,000 and $150,000 of income, the exclusion is reduced.
This bill (1) expands eligibility for the partial gross income tax exclusion on pension and retirement income to certain taxpayers with gross incomes exceeding $150,000, and (2) increases the amount of the exclusion that qualifying taxpayers may claim.
1 sty 2024 · 23 This bill would provide for a cost of living increase for certain 24 retired public employees and their beneficiaries who are receiving 25 monthly payments from the Teachers' Pension and Annuity Fund,
This bill provides a retirement income exclusion under the gross income tax for certain persons with income over $3,000 from part-time employment. Under current law, a taxpayer with income not more than $150,000 may exclude certain pension and annuity income from gross income for State tax purposes.
9 sty 2024 · 2024 NJ S198 (Summary) Prohibits investment by State of pension and annuity funds in, and requires divestment from, 200 largest publicly traded fossil fuel companies.
5 lut 2024 · This bill would provide for a cost of living increase for certain retired public employees and their beneficiaries who are receiving monthly payments from the Teachers' Pension and Annuity Fund, Judicial Retirement System, Public Employees' Retirement System, Police and Firemen's Retirement System, and State Police Retirement System.
9 lut 2022 · New Jersey Pension- and Benefit-related Legislation. See below for information about the statutes governing the New Jersey State-administered retirement systems and benefit programs. Any questions can be directed to the NJDPB via our contact page
