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S 3100 - Requires State to Pay Pension Contributions on Quarterly Basis - New Jersey Key Vote

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Title: Requires State to Pay Pension Contributions on Quarterly Basis

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Title: Requires State to Pay Pension Contributions on Quarterly Basis

Vote Smart's Synopsis:

Vote to pass a bill that requires the state to pay pension contributions on a quarterly basis.

Highlights:

 

  • Requires the state to provide quarterly contributions to state retirement systems and funds in full each fiscal year according to the following schedule (Sec. 1):

    • At least 25% by August 1;

    • At least 50% by November 1;

    • At least 75% by February 1; and

    • At least 100% by May 1.  

NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.

Title: Requires State to Pay Pension Contributions on Quarterly Basis

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