Pensions

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futurecop
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Pensions

Post by futurecop »

I literally keep hearing different things. Is the pension for Police 25 years, or 30? And how did Christie change it?
intense1
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Re: Pensions

Post by intense1 »

Depends when you first started paying into the pension(would determine what tier you are) I started an academy May 2011 but didn't graduate until aug 2011.....it was changed in July 2011 from 25-30yrs. In a matter of a few weeks I got 5yrs tacked on. 💩👎🏻
BlueLine
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Re: Pensions

Post by BlueLine »

It's 30. 20 and out is supposedly coming back for a test run for 50% and no medical. That will probably not last too long due to the current climate and people edging to get out.
NJSHIELD
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Re: Pensions

Post by NJSHIELD »

https://nj.gov/treasury/pensions/docume ... rsbook.pdf

read it straight from the manual.
Special Retirement: 60% @ 25 years service credit, 65% @ 30 years service credit
NJSHIELD
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Re: Pensions

Post by NJSHIELD »

https://www.state.nj.us/treasury/pensio ... 8-pfrs.pdf

more information of Christie and his CH78 changes to PFRS, read the facts, don't listen to the rumors.
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Raven
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Re: Pensions

Post by Raven »

intense1 wrote: Mon Nov 16, 2020 9:09 am Depends when you first started paying into the pension(would determine what tier you are) I started an academy May 2011 but didn't graduate until aug 2011.....it was changed in July 2011 from 25-30yrs. In a matter of a few weeks I got 5yrs tacked on. 💩👎🏻
Unless you were alternate route, you should be able to buy that time as pensionable and be Tier 1.
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intense1
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Re: Pensions

Post by intense1 »

Raven wrote: Wed Dec 23, 2020 11:33 am
intense1 wrote: Mon Nov 16, 2020 9:09 am Depends when you first started paying into the pension(would determine what tier you are) I started an academy May 2011 but didn't graduate until aug 2011.....it was changed in July 2011 from 25-30yrs. In a matter of a few weeks I got 5yrs tacked on. 💩👎🏻
Unless you were alternate route, you should be able to buy that time as pensionable and be Tier 1.
I've been told up and down that if I buy the time back it will count towards my retirement( 4months) but I will not move tiers due to not being an officer at the time when the tiers changed. If this is incorrect, I would love to know how to fight it.
NJSHIELD
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Re: Pensions

Post by NJSHIELD »

the tier that your are in is based on your pension enrollment date, if you have a chance read the NJ PFRS manual under the section about enrollment eligibility. It states that your enrollment date is the 1st of the month of the completed required training (fire academy/police academy). In your example you were hired may 2011, when your enrollment date into the PFRS is when you graduated the academy, which was after CH78 changes took effect. If you were enrolled into PEERS prior to being hired as a cop, and you had ROLLED over your pension PEERS to PFRS you would have stayed in tier 1/2 depending your PEERS enrollment date. If you were in PEERS prior to becoming a cop, but then unenrolled from PEERS, and then enrolled into PFRS with a new pension number, you would be in Tier 3. Log into your my NJ Portal and log into MBOS to see what the state has your date of enrollment into PFRS.


If you purchase any prior eligible time to count towards your pensionable credit months it will only count towards your number of months that you have credit, it will not backdate you. And you can purchase your time hired while in academy but not in the pension yet, if you were hired and enrolled in PEERS and then rolled into PFRS after the academy there would be no credit to buy back.

I am in a very similar situation. I have researched this extensively, I got tired of the rumors and go the answers from the source.
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