PENSION BENEFITS REPORT
Gratitude for our pensions
I can ’ t believe we are more than halfway through November already ! This year is flying by . Now that Phil Murphy has won the election , we are hoping for good things to happen for our state and continued protection of our most precious asset , our pension .
With Thanksgiving at the end of the month , I wanted to remind everyone of a few items within our pension that we should be thankful for . Sometimes we lose sight of what we have , so take this time to remember what we do have .
First and foremost , we should be thankful that our pension has a death benefit to take care of our families , God forbid that anything happens to us . Not only do our active , onthe-job members have death benefits for their families , but our retired members ’ families do as well . Please be sure to familiarize yourself with the death benefits available to you . We all have the one-time payout of 3.5 times our salary , but there are nuances for minors that are extremely important to familiarize yourself with as well .
Another piece of our pension that we should all remember to be thankful for is the disability benefit within our PFRS pension . Our jobs are not easy , nor are they always safe . Knowing that we have benefits available to us in the event that we are injured in the line of our duties is something to be grateful for . While we hope that no one ever has to use this benefit , that ’ s just not the reality of our jobs . Whether it ’ s going out with 66 2 / 3 or retiring with 40 percent , we are so fortunate to have something available and a process in place to be sure that our members are properly cared for .
Let us not forget what we have one of the healthiest pensions within NJ . For that , I know I am thankful , since I still have a few good years left in me and know the pension money that I am due when I retire will be there for me .
Best wishes to everyone for a healthy and happy holiday season . Take this time to be thankful for what we have ! We have a lot going for us , so don ’ t lose sight of that ! d
12 NEW JERSEY COPS ■ NOVEMBER 2017