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Pension & Health Benefits
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Pension Systems
There are currently seven pension funds administered by the State of New Jersey. Most are a defined contribution plan in which the employee contributes a fixed percentage of their salary while the employer contributions are based on actuary reports. The three main pension funds available to local municipal employees are Police and Fire Retirement System; Public Employee Retirement System and Defined Contribution Retirement Program.
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Health Benefits
Information on the Health Benefits program administered by the NJ Division of Pension & Benefits.
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Lori Buckelew
Deputy Executive Director/Dir. of Gov't Affairs
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Local Finance Board Approves 2023 Appropriations Cap Exceptions
The Local Finance Board Meeting has unanimously approved exceptions to the appropriation cap, granting relief for the 2023 budget year which included a dramatic rise in insurance costs for many municipalities. Read on... -
State Health Benefits Increase Continues to Remain Unresolved
There continues to be no progress in efforts to mitigate the impact of the unprecedented health care contribution increase for State Health Benefits Program (SHBP) participants and employers. Read on... -
State Health Benefits Increase Remains Unresolved
Newark, Camden, and Trenton have left the State Health Benefits system, or are in the process of doing so. The SHBP Design Committee met to appoint a Super Conciliator. There was no action/discussion on the increase to the State Health Benefits program. Read on...
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