Only New Jersey Time To Be Used Calculating Retirement Health Benefits
Senate Bill 1966, a measure sponsored by Senator Steven Oroho, a member of the Senate Budget and Appropriations Committee that would prohibit the use of out of state pension credits in calculating New Jersey post-retirement health benefits passed the Senate State Government Committee unanimously today. The bill applies to members of the Public Employees’ Retirement System and the Teachers’ Pension and Annuity Fund.
“It is nonsensical to ask the middle class taxpayers of New Jersey to foot the bill for post-retirement health benefits earned in another state,” Oroho stated. “The only exception should be our service men and women who put themselves in harms way protecting the our nation.”
The bill prohibits members of PERS and TPAF from purchasing credit for post-retirement health care benefits for time served in another state, the federal government, service with a bi-state or multi-state agency. Military service would be exempt from the provisions of this bill.
“This is a common-sense, fiscally responsible reform measure and it is long overdue,” Oroho continued. “New Jersey taxpayers should not be paying benefits related to a person’s service in another state.”
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