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New Jersey spends $4.4 billion annually on public employees and retiree health care costs, with the cost of health benefits making up 9% of the State’s budget today.
About 500,000 active and retired public employees will pay more for their health and pension benefits, saving New Jersey taxpayers an estimated $120 billion over 30 years in pension costs. The ...
On Sept. 8, 2016, the State Health Benefits Plan (SHBP) released its 2017 rates. Among the many attractive elements of the 2017 offering is a 0.1% reduction (v. 2016) in the state for its active ...
The Employee Retirement Income Security Act of 1974 ( ERISA) ( Pub. L. 93–406, 88 Stat. 829, enacted September 2, 1974, codified in part at 29 U.S.C. ch. 18) is a U.S. federal tax and labor law that establishes minimum standards for pension plans in private industry. It contains rules on the federal income tax effects of transactions ...
In many states, public employee pension plans are known as Public Employee Retirement Systems (PERS). Pension benefits may or may not be changed after an employee is hired, depending on the state and plan, as well as hiring date, years of service, and grandfathering. Retirement age in the public sector is usually lower than in the private sector.
SustiNet is a Connecticut health care plan passed into law in July 2009. [1] Its goal was to provide affordable health care coverage to 98% of Connecticut residents by 2014. [1] The name SustiNet derives from the motto of the State of Connecticut: "Qui transtulit sustinet." (Latin: " [He] Who Transplanted [Still] Sustains").
Here are five ways to make the most of your time before retirement. 1. Know Your Health Insurance Options. There are quite a few decisions to make as you near retirement, and what to do about your ...
In 2022, only 7% of private-sector workers had jobs at employers offering health insurance to retirees, down from 25% in 1997, according to a recent report from the Employee Benefit Research ...
Number of vehicles. 2,429 commuter rail cars. 6,418 subway cars. 61 SIR cars. 5,725 buses [1] The Metropolitan Transportation Authority ( MTA) is a public benefit corporation responsible for public transportation in the New York City metropolitan area of the U.S. state of New York.
The Cherokee-based organization that pushed for changes in the State Health Benefit Plan are criticizing the state's latest options. Kristal Dixon , Patch Staff Posted Mon, Aug 18, 2014 at 2:20 pm ET