NJEA COMMITTEE REPORTS

Greg Smith

Name of the Committee: Pension Policy Special Pension Power Point

Date of Meeting: March 15, 2005

Subject(s) Discussed:

• NJEA continues to have pending litigation concerning our pension.

State not funding its part to the pension fund.
State not having the statutory power to hire external managers of the pension fund.

• Veterans with 35+ years of service, get to base pension on highest salary, was previously based on the last year of service. (2004 Legislation P.L. 2004, c.177)
• PERS trustee election in April.

Districts distribute ballots to PERS members.
NJEA Candidate is LEE FLANAGAN.

• TPAF trustee election in Nov.
• Pension audits for retirees who make more than $500 a year in a certificated position. Potential of lost pension & health coverage canceled for the period while working. Guard your own pension!

Important Issues / Recommendation(s):

Write or call your Senator and Assembly representatives. Urge them to support a legislative session to provide tax relief now!

Date of Next Meeting: May 24, 2005

Please feel free to contact me with any concerns about pensions, service purchase, or beneficiary designation for our group life insurance.

E-mail: janeachus@yahoo.com