The Asbury Park Press published an article in today’s Sunday edition addressing the ability of The State of New Jersey to honor its pension obligations to those public employees that have been paying into the retirement system since the start of their public employment . The article, entitled "Can New Jersey Keep its Pension Promises?"
New Jersey Public Employee Retiree Benefits
STATE’S AUTHORITY TO REVOKE A RETIRED POLICE OFFICER’S PERMIT TO CARRY A HANDGUN IS NOT PREEMPTED BY FEDERAL LAW
By Frank M. Crivelli on
Posted in Retiree Benefits
In the case of In re Carry Permit of Andros, A-4077-06T4, the Appellate Division held that the State of New Jersey’s authority to revoke a retired police officer’s permit to carry a handgun is not preempted by federal law.
James Andros was an Atlantic City police officer from 1968 to 2003. Prior to his …
Amendment to Retiree Health Care Benefit Package Upheld
By Frank M. Crivelli on
Posted in Retiree Benefits
In Communication Workers of America v. State of New Jersey, the appellants challenged an amendment made by the State Health Benefits Commission to the retiree prescription drug card pilot plan. In support, appellants argued that the rule is invalid and unenforceable because it reduces post-retirement health care benefits.
The Appellate Division affirmed the …
Extension of Effective Date for New IRS Regulations
By Frank M. Crivelli on
Posted in Retiree Benefits
After much concern regarding the new Treasury Regulations promulgated by the Internal Revenue Service (“IRS”) and their potential impact on members of government pension plans, the IRS and the Treasury intend to extend the date by which a governmental plan must comply with final regulations on distributions from a pension plan upon attainment of …
The Public Employee Pension and Benefits Reform Act of 2008 and Its Affect on New Jersey Public Employees
By Frank M. Crivelli on
Posted in Retiree Benefits
Most recently New Jersey GovernorJon S. Corzine signed the Public Employee Pension and Benefits Reform Act of 2008. While this bill does not affect the members of the Police and Firemen’s retirement System (PFRS), it does affect members of the Public Employees Retirement System (PERS) and the Teachers Pension and Annuity Fund (TPAF). Certain …