September 24, 2010

Re:      FY 2011 Pension Contributions Estimated Billing

Dear Mayor:

The Division of Pension and Benefits has posted the projected 2011 local employer pension bill for PERS and PFRS. 

The information is available at:

PERS: www.state.nj.us/treasury/pensions/epbam/exhibits/pdf/2011-pers-billing.pdf

PFRS: www.state.nj.us/treasury/pensions/epbam/exhibits/pdf/2011-pfrs-billing.pdf

In addition to the projected 2011 rates, the Division also posted a side by side comparison of the 2010 actual pension billing amount versus the projected 2011 pension billing amount.  There are year-to-year comparisons of the full amounts, along with early retirement incentive amounts.

The comparison is available at:

PERS: www.state.nj.us/treasury/pensions/epbam/exhibits/pdf/pers2010-2011comparison.pdf

PFRS: www.state.nj.us/treasury/pensions/epbam/exhibits/pdf/pfrs2010-2011comparison.pdf

We are currently reviewing the information and how it will impact municipal budgets for 2011.

Very truly yours,

William G. Dressel, Jr.
Executive Director