Nj Pension Cola 2025. There could be a social security increase of 2.64% in 2025, according to the latest estimates from the senior citizens league. More than $7 billion collected from taxes and dedicated revenues from the state lottery will be put toward funding worker retirement benefits during the fiscal year that began.
Phil murphy signed the fiscal year 2025 budget that includes $7.2 billion for the state pension system, the fourth consecutive year of full funding. 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 beneficiary in pers,.