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