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Looks like they backtracked pretty quickly on not being able to use out of state doctors. Now they are saying that is only one plan of many. Which by the way they have not actually developed any of the plans at this point.
marc- you get medical in retirement after 25 years however at 65 the default plan is medicare and the State plan only operates as a supplemental policy.
I just ran into a retired New Jersey state trooper. He was very upset about the WEP ( Windfall Elimination Provision ), His social security benefit, based on earnings prior to becoming a state trooper, were reduced because of the NJ pension. He was convinced that is due to Obomacare the WEP was just now being applied to NJ state pensions. I tried to validate this and could find no connection between WEP and Obomacare. Can anyone help me with this? Was there ever a time when WEP was not applied to NJ pensions? Thanks in advance.
not at all - my tax bill is minor compared to my income and I get benefit from it.
and you do realize public sector union employees pay taxes too, right?
That's good for us high income folks but what about retirees, carpenters, truck drivers and others who aren't as well off? Get out? Rent a small apartment?
NJ's quality of life has nothing to do with the fact we're one of the most highly taxed in the US.
The fact is public workers had the luxury of hiring (voting) in those that feathered their nests and it was based on a financial mentality that is unrealistic.
How is it a cop, for example, can say they took no vacation days in 1988, 89, 90.... and get that money back in 2013 dollars?
That's ludicrous.
I'm just glad that, like you, I earn enough to support that folly in addition to supporting a family with a wife who got to raise our son. But the shmoe doing pick and shovel work....hey, them's the breaks. Move to Pennsy, or don't allow your wife to be a sahm or part timer even if that's her true desire.
That's good for us high income folks but what about retirees, carpenters, truck drivers and others who aren't as well off? Get out? Rent a small apartment?
NJ's quality of life has nothing to do with the fact we're one of the most highly taxed in the US.
The fact is public workers had the luxury of hiring (voting) in those that feathered their nests and it was based on a financial mentality that is unrealistic.
How is it a cop, for example, can say they took no vacation days in 1988, 89, 90.... and get that money back in 2013 dollars?
That's ludicrous.
I'm just glad that, like you, I earn enough to support that folly in addition to supporting a family with a wife who got to raise our son. But the shmoe doing pick and shovel work....hey, them's the breaks. Move to Pennsy, or don't allow your wife to be a sahm or part timer even if that's her true desire.
People act as if the public workers were the only people who voted. What's done is done, we should make logical changes for going forward, but things like sick days never expiring were another thing given in return for a salary negotiation. it's stupid, but the reality is, there are private companies that have that policy also for workers from that era...
Buckeye, to my knowledge, WEP is part of 26 states and does not include NJ. In those states, public workers do not contribute to Social Security and do not receive it based upon their public jobs if they get a pension. In essence, in those states they cannot receive both pension and SS unless they paid into SS in private sector jobs at some point in their working lives. Please let me know if I am correct in this information and I 'd appreciate a link. I have never heard of NJ public workers not contributing to SS but I may be wrong....
WEP is designed to reduce the Social Security benefit received by people who have a pension for earnings which did not contribute to Social Security. This provision was enacted in 1983 and is not state specific. It also applies to pensions from foreign governments. Social security benefits are graduated - people with lower earnings will receive a larger percentage of their contributions as a benefit. Without WEP an employee who had average earnings for 10 years and then went to a non social security job ( state police, teachers etc ) would appear to be a low earning worker and receive a 'windfall' benefit. The only exclusions I know of are rail road workers and some federal workers. WEP is controversial because retirees don't find out about this until just before they retire. The information Social Security sends out doesn't mention the WEP. People plan on the benefit they see based on the Social Security provided data and then get a surprise.
I agree, if NJ public employees contribute to social security then WEP shouldn't apply. Public employees contributing to Social security is unusual as most do not.
I wonder is someone has more detailed information regarding NJ State pensions and Social Security benefits.
I agree, if NJ public employees contribute to social security then WEP shouldn't apply. Public employees contributing to Social security is unusual as most do not.
I wonder is someone has more detailed information regarding NJ State pensions and Social Security benefits.
NJ public employees DO contribute to Social Security, as well as to their pension plan.
As a result, they are eligible to receive both upon retirement.
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