Reynolds-Jackson Introduces Two Bills to Restore Fairness in State Pension Programs

(TRENTON) — Today, Assemblywoman Verlina Reynolds-Jackson (Mercer/Hunterdon) introduced legislation to establish pension equity for public sector workers who have been subject to harsh pension cuts under the Christie administration. The Assemblywoman recognizes that public sector employees who have entered the workforce since the introduction of Tiers 4 and 5 are subject to an unjust and unrealistic pension plan that discourages public service, poses a severe problem for retention, and does not adequately prepare them for a secure retirement.

The legislation (A5158 and A5160) compresses the 5 tiers of the state TPAF and PERS systems into a single tier, thus bringing back fairness and a commitment to provide public service employees with dignity and economic security in their retirement in exchange for a career of public service to New Jersey.

Assemblywoman Reynolds-Jackson stated, “I am proud to stand with educators, state, county, and local employees who, based on the year they were hired, are in pension tiers that put a secure retirement out of reach for many. We should not require 40+ years of service to be eligible for a full state pension. This unrealistic expectation discourages people from taking these jobs and causes many to leave their positions early.”

NJEA President Sean Spiller, lauded Assemblywoman Reynolds-Jackson for taking the lead on this legislation that is so important to educators across the state. “At a time when we are experiencing severe staff shortages, with too many of our experienced educators leaving mid-career, we know that restoring pension fairness and the promise of a secure retirement will help both attract the next generation of educators and keep the dedicated professionals we already have. This will benefit our students, their families and every community in New Jersey. We thank the Assemblywoman for her continued commitment to students and public education and we pledge that our members will work with her to see these important bills become law.”