Hope you’re enjoying the first weeks of summer!We’re sure to hear more about this soon, but wanted to give you all a heads up!Sen. Joe Cryon has introduced legislation that will provide relief from Chapter 78, the Bill that requires we pay into our healthcare benefits. This is an excerpt from the bill, with the highlighted portion being the specific language for us.The attachment was devleoped by Denise Policastro and is an estimate of the different out of pocket costs should this measure pass.Commencing on the effective date of P.L. , c. (pending before the Legislature as this bill) and upon the expiration of any applicable binding collective negotiations agreement in force on that effective date, employees of a local board of education shall pay no more than three percent of their base salary for individual coverage, four percent of their base salary for individual and adult or individual and children coverage, and five percent of their base salary for family coverage, through the withholding of the contribution from the pay, salary or other compensation, for health care benefits coverage provided pursuant to P.L.1979, c.391 (C.18A:16-12 et seq.), as that contribution may be required by an applicable resolution, collective negotiations agreement, or other means. This paragraph shall apply notwithstanding the provisions of section 78 of P.L.2011, c.78 (C.18A:16-17.2) to the extent that it requires the inclusion of contribution levels in collective negotiations agreements after full implementation of the requirements of the law specified in that section 78, and notwithstanding the requirement of any other law or regulation to the contrary.
Congratulations to the winners of the $50.00 Shop-Rite Gift Certificates:
WTEA SPECIAL ANNOUNCEMENT (Effective Immediately)
Attention all WTEA Members,
The WTEA leadership is asking all of its’ members not to volunteer any of their personal time, outside their contractual obligation, at events or functions before/after school until an agreement has been met between the BOE and WTEA. We understand this may prevent some events from occurring in our district that traditionally has had success bringing our schools and communities together, but this is the direction we are going until we see a mutual and fair contract.
We will be meeting with all our members very soon, to continue the effort with the negotiation process. Thank you for your continued support at this very critical time. If you have questions, please feel free to reach out to your WTEA building reps or the WTEA Leadership.
Thank you again.
YOUR WTEA LEADERSHIP
WTEA donates to Long Valley families
The WTEA collected and donated $980 To LVCAP. These funds will help families in need of Home Heating Oil. Mrs. Woodring was very appreciative and grateful for this donation. WTEA is proud of it’s members for this donation.
WTEA MEMBER GOES THE EXTRA MILE FOR “HARVEY SURVIVORS!!”
8th Grade LVMS Math teacher, Melissa Udelsman, organized a huge collection (540lbs) including school supplies, toiletries, and linens for a school district in Texas. This school district was damaged by Hurricane Harvey a few weeks ago. Melissa showed her true colors and great “Moral Fiber” by getting fellow LVMS staff members and students to donate anything school related that could help this district in their time of need. Mr. Myles is the Texas school teacher who will be receiving this donation and is extremely excited and appreciative of this act of true generosity.
Mrs. Udelsman would like to thank everyone who made any donation or helped with this process.
The WTEA is extremely proud of Melissa’s efforts in this charitable collection. She is not just a great math teacher but a great human being with a big heart. Great job Melissa Udelsman. (There are pictures below of the collection.)
Tara Ligos, Elaine Benvenuto and I presented the WTEA Philanthropic check from our recent donation to the LVCAP at their meeting on Feb 28th. WTEA Philanthropic Chairperson,Tara Ligos, spoke to the members of the group and thanked them for the work they do on behalf of our families and community. The total donation of $736.00 was presented to Lisa Woodring of LVCAP.
It was a nice presentation and they were very thankful for our donation. Susan Spina said it would fund their Easter needs.
Public Employee Defined Benefit Pensions Are a Good Deal for States and Communities:
Public employee pensions are a modest, but irreplaceable source of security for public employees to which they generally contribute substantially.
- Employee contributions and investment returns fund the overwhelming majority of the cost of pensions.
- TPAF members are expected to contribute $740 million to the pension fund in 2015.
- Taxpayers shouldered only 20.1% of all public pension funding from 1993-2012.
- In fact, each dollar contributed by taxpayers supports $8.82 of New Jersey economic activity.
- While the politicians who run state government have often failed to faithfully contribute to the pension plans, teachers, school employees, and other public employees have contributed every year and have never failed to make their legally required payments.
Pension benefits are not the cause of unfunded pension liabilities which are making the headlines
- The deep financial downturn of 2008 and 2009, spurred by recklessness on Wall Street, caused significant problems our state’s pension fund.
- The pension fund is not at an imminent risk of default, and has years to recover investment loses.
- In any case, unfunded liabilities do not disappear if pension benefits are cut or the pension fund is closed. The pension liability debt remains.
The New Jersey Pension Fund has been well-managed and demonstrated favorable growth. Fund management, expenses, and fees are not the source of our longstanding pension and budget problems.
- In Fiscal Year 2014, the State Pension Fund exhibited growth of about 16.9%. The five year annualized growth including FY 2014 was about 12.4%.
Defined benefit pension plans make sense in the public sector where jobs in public safety, education, social services and public management are unique to that sector.
- Pension plans are actually less expensive for the taxpayer, for long-term employees, than 401(k)-style plans. Pension plans can deliver the same retirement benefit as a 401(k)-style plan for 46 percent less cost – a huge savings for taxpayers.
- Costs are increasing for the state pension plan primarily because the state must now pay for past service that it did not properly fund.
- Pensions are a key tool for recruiting and retaining quality teachers and ESPs.
The economic crisis had a devastating effect on the retirement security of millions of Americans in all walks of life.
- Pension funds, unlike 401(k) plans, may be rebuilt over a period of decades because they cover a wide range of employees in terms of age and years of service.
- Depending on the age of a worker in a 401(k) plan, they may have only a few years in which to address their retirement savings deficit.
Pensions are engines of economic growth and help maintain economic stability and curtail poverty.
- The benefits provided by New Jersey’s pension plan have a significant economic impact:
- Every dollar of pension paid to retirees in 2012 led to $1.77
of economic activity.
- Every dollar of pension paid to retirees in 2012 led to $1.77
- In 2012, expenditures stemming from New Jersey public employee pensions supported…
- 96,763 jobs that paid $5.5 billion in wages and salaries,
- $15.3 billion in total economic output, and
- $2.4 billion in federal, state, and local tax revenues
- Retirees and their beneficiaries personally paid $104 million