Pension and Health Benefit Fall 2020 Update
Pension Contribution Considering the state’s financial picture, the FY 21 Budget includes a $4.7 Billion dollar payment into the pension system which is only slightly lower than the original budget proposal of $4.9 […]
School Employees Health Benefit Plan Design Committee (SEHBP PDC) Approves Changes for 2019
Attention NJPSA Members! School Employees Health Benefit Plan Design Committee (SEHBP PDC) Approves Changes for 2019: On Monday, September 17, 2018 the School Employees Health Benefit Plan Design Committee (SEHBP PDC) approved changes to […]
Court Decision On OPTUMRx Selection by State-
On May 11, 2018 the NJ Superior Court, Appellate Division, ruled in favor of Express Scripts who had filed an appeal of the SEHBP/SHBP award for the Prescription Benefit Management (PBM) to OPTUMRx […]
What’s New for 2018 in Pension and Benefits?
New Prescription Manager: – OPTUMRx Effective January 1, 2018, members (active and retired) whose prescription coverage is through the SEHBP will have a new Prescription Management Service – OPTUMRx replaced Express Scripts. Those impacted […]
Prescription Management Change to become effective January 1, 2018 for those in the NJ School Employees Health Benefit Plan
For members (all Retirees and some Active) in the School Employees health Plan and who get their prescriptions through the State plan, you should have been notified of a change in the management provider […]
Division of Pensions Issues Clarification on Employment After Retirement
The Teacher's Pension and Annuity Fund (TPAF) Retirement Application now includes a clarification on "Employment After Retirement" in the Terms and Conditions For Retirement. This notice clarifies the "Bona Fide 30 day break in […]
Want Details on the Report of the NJ Pension & Health Benefit Study Commission?
NJPSA Director of Retirement Services, Robert Murphy, provided analysis on the recent report released by the New Jersey Pension and Health Benefit Study Commission, A Roadmap to Resolution: Report of the New Jersey Pension and […]
SOCIAL SECURITY AND MEDICARE CHANGES FOR 2015 – For active and retired members
There are a number of changes that go into effect for 2015 regarding Social Security, Social Security Taxes and Medicare. The maximum earnings on which you pay Social Security taxes in 2015 is $118,500 […]
Retiree’s New Year Checklist
As you ring in the New Year, it is a good time to prepare for any changes impacting your retirement income. Do you need to adjust your tax withholding for federal and state taxes? […]
NJ Pension Fund Continues to Show Solid Double-Digit Returns
With all of the negative pension news coming out of Trenton, it is refreshing to hear that the returns on our investment have been doing very well! According to a recent report by the […]