Date: October 12, 2011
To: Members of the Public Employees Retirement System (PERS)
From: Vivian Fernández
Vice President Faculty and Staff Resources
Subject: Employee Pension Contribution Increase for Members in the Public Employees Retirement System (PERS)

 In July, we notified you that Governor Christie had signed Chapter 78, P.L. 2011 into law which resulted in significant changes to certain provisions of the State-administered retirement systems. The law modified the employee contribution rate and retirement benefit for the Public Employees Retirement System (PERS).

This serves as a reminder that the pension contribution rates will go into effect this month. The Public Employees Retirement System (PERS) pre-tax employee pension contribution will increase from 5.5% to 6.5% effective in the October 14, 2011 pay period. The PERS pre-tax employee contribution will have additional increases over a seven-year period until the pre-tax employee contribution rate is 7.5% of the base contractual salary. The PERS employee contribution will continue to be pre-tax.

In order to assist you in assessing the impact of these changes, UHR has developed the Pension and Health Reform webpage that provides detailed information for affected employee groups. If you have any questions regarding the changes, please contact a Benefits Specialist at 848-932-3990 or via email.