The New Jersey Legislature’s Office of Legislative Services has clarified that the state’s new
New Jersey employees fund the new Paid Insurance program through of 0.09% of their pay, up to a total of $26.01 per year. However, it wasn’t clear until now whether pension payments were subject to the same tax.
Assemblyman Samuel D. Thompson asked the Office of Legislative Services to clarify the matter. Only payments for services—wages and salaries—are subject to the new tax.
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