2024 Cost Of Living Increase For Employees In Nj. Actual 2024 federal pay raises for civilian employees will range from 4.7% to 5.7%, depending on where they work. This bill would provide for a cost of living increase for certain retired public employees and their beneficiaries who are receiving monthly payments from the teachers' pension and annuity fund, judicial retirement system, public employees' retirement.
2024 nj s2475 (summary) requires cost of living increase to be granted in each of two state fiscal years when retirement allowance or benefit is below certain amount for retiree or. All contribution rates below are for the public employees’ retirement system.
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