Tag: Union County

Municipal Budgets 2021 (4) Pension Contributions

Mary Pat Campbell

Link:https://burypensions.wordpress.com/2021/11/17/municipal-budgets-2021-4-pension-contributions/

Graphic:

Excerpt:

Over at countywatchers I have a series comparing 2021 budget items for the municipalities in Union County and part 4 relates to this blog so here it is.

Comparing pension records to 2021 budget allocations that municipalities in Union County made for their contributions to the New Jersey Public Employees Retirement System (PERS) and Police and Firemen’s Retirement System (PFRS) shows that, on average, PERS and PFRS contributions made up 8.17% of total budgets, representing $170 per resident. The average contribution as a percentage of a participant’s salary came to 25.03% with $19,942 as the average contribution per participant.

Author(s): John Bury

Publication Date: 17 Nov 2021

Publication Site: burypensions

NJ Localities Meeting Pension Obligations

Mary Pat Campbell
NJ Localities Meeting Pension Obligations

Graphic:

Excerpt:

I am researching what counties been paying into the New Jersey Retirement System for their Public Employees (PERS) and Police and Fire Personnel (PFRS) since Union County has been budgeting more than they were billed but the 2021 budgets for 7 of the 21 counties are not out yet so that project is on hold.

But in going over the history of what Union County has been sending to PERS and PFRS since 2005 (which presumably would be in line with other localities) there have been some politically motivated swings but, bottom line, Union County’s ‘fair share’ is now defined as 25 times more than what it was in 2005 for PERS and 8 times more for PFRS.

Author(s): John Bury

Publication Date: 20 April 2021

Publication Site: Burypensions