Regina Herz
Regina M Herz is the former Board
Secretary to the Trustees of the Police and Firemen’s Retirement System. Prior
to holding that position, she served as the Assistant Director of Client
Services in the Division of Pensions and Benefits. With her 25 years of
experience, Regina brings to the New Jersey
State PBA a wealth of information on
retirement and health benefit issues.
Regina conducts regular retirement
workshops at the PBA Headquarters in Woodbridge and throughout the State. The
workshops are open to all members and their spouses. Please consult the website
for further details or write Pension@NJSPBA.com.
This is a Free Service provided through the
office of the State Policemen's Benevolent Association President for members of the New
Jersey State
Policemen's Benevolent Association, Inc. Individual and/or group conferences
are provided with advance notice by contacting the State Policemen's Benevolent
Association office. (732) 636-8860.
Toll Free 1(888)-465-7722.
N.J. STATE P.B.A., INC.
PRESENTS
RETIREMENT WORKSHOPS
Tuesday, January 15, Mahwah Sheraton
10 am
Wednesday, January 16, State Office 11 am
Thursday, February 21, Cape May Police
Academy 9 am
Friday, February 22, State Office 11 am
Tuesday, March 11, State Office 1 pm
Thursday, March 27, Camden County Police
Academy 9 am
The workshops will cover the following topics:
·
Pension Calculations
·
Survivor Benefits
·
Life Insurance
·
Taxes
·
Loans
·
Cost of Living Increase
·
Social Security Benefits
·
Health Benefits
If you
are interested in attending, please contact Regina Herz, NJSPBA Pension
Consultant,
at (732) 636-8860 extension 18 or send an e-mail to
pension@NJSPBA.com.
Spouses are encouraged to attend!
As part of a program created in 1991, the office of Pension/Benefits
Coordinator continues to provide police officers and their families with in-depth
assistance in facilitating their decision regarding retiree and survivor benefits.
In addition, these services have expanded considerable, not only in
providing information beneficial to members contemplating retirement, but also to PBA
members currently retired.
Topics discussed include pre and post member and survivor benefits,
Direct Deposits, Federal and State Tax information, Social Security, Medical Benefits and
other information to assist members and their families in this very important transition
into retirement.
Free Notary Public Services are available at the State Policemen's
Benevolent Association office for notarizing retirement applications or other legal
documents.
The retirement services nevertheless encompass a major function of the
Consultant-Coordinators job. Each member planning to retire is invited down to our office
with his/her spouse. (Information to the spouse is vitally important since they are the
other main beneficiary in the distribution process.) The retirement conference is designed
to give our officers a complete sense of ease and well being as they enter into uncharted
waters of retirement. The response to the program over the years has proven it to be
unique as well as an enormous success. Our goal of laying the necessary groundwork ensures
many years of happy healthful retirement for our members.
At the same time, officers injured in the line of duty are aided in the
preparation and filing of paperwork for accidental disability benefits. Officers who
become sick or injured off duty are assisted in applying for ordinary disability.
Information is provided for use by members retired on accidental disability pensions as to
federal and state tax laws that allow for non-taxability of their pension.
Officers in the midst of departmental charges who face suspension,
termination, and in some instances, indictment, have been helped and counseled as to their
rights and options under laws and how benefits will applied should proceedings end with
job dismissal.
Officers faced with terminal illness or any serious illness are assisted in the
preparation of paperwork, thus lifting any additional worry from their shoulders.
Spouses and children of deceased officers are
assisted in the preparation of forms relating to life insurance, medical insurance, social
security information, and pension and contribution benefits.
In addition, federal and state legislation is
continuously being monitored and challenged as it affects all of our membership,
especially those planning to retire.
Further, it is requested that state delegates
contact all retired members in their departments and let them know that we are here to
help them with any problems or difficulties they may be encountering in their retirement.
Spouses and children of our retired officers are also welcome to assist themselves of
these services.
Summary:
The retirement conference is designed to answer a wide variety of
questions that affect retiring officers. It is meant to serve as a cost saver - to reduce
the need for the individual to engage outside professional services. It is meant to be
used as a guide and should not be construed as the "Final Word'" in the
foregoing matters. Each individual's needs are distinct and decisions should be made with
this in mind. Each potential retiree will receive a booklet containing valuable
information pertaining to all benefits that the retiree and/or spouse is entitled through
the Division of Pensions. Again, have your members take advantage of this very important
Free Service offered by the New Jersey State P.B.A., Inc. through the office of the
P.B.A. State President
Divorce and Your Retirement Benefits
FACT SHEET #42
ENCUMBRANCES ON YOUR PENSION
Although your pension is normally exempt from
any liens, the Division of Pensions and Benefits will honor court
orders for child support, alimony or equitable distribution.
The New Jersey State retirement systems are not
regulated by federal ERISA legislation which authorizes the
payment of retirement benefits in accordance with the
requirements of a qualified domestic relations order (QDRO)
issued by a court, generally in connection with the granting of a
dissolution of a marriage. Court decisions and opinions rendered
by the Attorney General have, however, resulted in the pension
systems implementing matrimonial court orders granting
alimony,support, or equitable distribution against a member's
monthly retirement allowance.
EFFECTIVE ONLY UPON RETIREMENT
Such matrimonial orders cannot take effect
until the member retires and begins receiving a monthly
retirement allowance. To be implemented by the Division of
Pensions and Benefits, the matrimonial order must designate a
specific dollar amount, a specific percentage, or a percentage of
the benefit the member will receive based on the number of years
of service the member accrued while married. The amounts withheld
are sent directly to the divorced spouse unless the order
specifies another payee such as a probation department.
For members of those retirement systems
providing a spousal survivor's benefit (ie., PFRS, SPRS, JRS), a
divorce automatically precludes the former spouse from ever
receiving a survivors benefit.
WHEN WITHHOLDING CEASES
Upon the death of either the retired member or
the divorced spouse, all withholdings mandated under a
matrimonial order cease. In those retirement systems that permit
a member to select a survivor's benefit option at the time of
retirement (ie., PERS, TPAF), court ordered withholding
terminates upon the death of the retirant; but, if the divorced
spouse is designated the beneficiary under the survivor's option,
the surviving divorced spouse is then entitled to the survivors
benefit for as long as s/he lives. If another person is
designated beneficiary of the survivors benefit, the divorced
spouse cannot receive any equitable distributions from the
survivor's benefit paid to that other person.
Before a matrimonial order is issued, the text
of the order should be sent to the Division of Pensions and
Benefits for review and comment.
BENEFICIARY DESIGNATION
The Division of Pensions and Benefits cannot
implement or guarantee the implementation of any
"irrevocable designation of death benefits or selection of
retirement option. Such designation or selection remains the
Prerogative of the member.
A member involved in a divorce Proceeding
should review his/her beneficiary designations at the time
divorce papers are filed and again after the final decree has
been issued. Unless the member changes beneficiary designations,
the member's last beneficiary designations would be the ones
honored. If you are unsure of your beneficiary designations, you
may request, in writing, the names of the beneficiaries on file
with the Division of Pensions and Benefits. Write to the address
below and include your name, social security number
· and signature*. If you wish to change your
beneficiary designation, contact the Division of Pensions and
Benefits at (609) 777-1 931 [enter 2-4-4 if you are an active
pension system member; 1-1 -4 if you area retired TPAF or PERS
member; or 1-1-5 if you are a retired PFRS member] to have a new
beneficiary designation form sent to you.
'The Division of Pensions and Benefits cannot
release the identity of a member's beneficiary without the
member's written authorization.
HEALTH INSURANCE FOR FORMER SPOUSES
For loss of health insurance coverage (including
dental and prescription drug) due to divorce or legal separation,
your former spouse is entitled to continue
participation in the State Health Benefits Program under the
provisions of COBRA for a period not to exceed 36 months. Under
COBRA your former spouse may be covered for health, dental and
prescription drug insurance during this 36-months as long as s/he
is unable to receive similar coverage on his/her own, through an
employer or new spouse, or if she/he has an existing condition
not covered by available insurance. The cost of this coverage is
borne by the participant and amounts to the full group rate of
the benefit, plus an additional 2% administrative charge. You are
responsible for notifying your employer within 60 days of a COBRA
qualifying event such as divorce or legal separation. If the
employee does not inform the employer of the change in dependent
status within the 60 days, the employee may forfeit the
dependent's right to COBRA coverage.
This fact sheet has been
produced by:
Division of Pensions and Benefits
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