Things I Learned (For Real!) From Listening to NJ 101.5
So, today, I'm listening to Former NJ Education Commissioner Jim Gearhart during my week off, because there's nothing I love more than aurally delivered masochism.
And I actually learned something! Jim had on a president of one of the firefighters unions (sorry, forgot the name and the union; yeah, getting old...). He explained to Gearhart that both firefighters and police in New Jersey are not eligible for Social Security, and do not have FICA collected from their taxes.
Now, I'm a teacher, and I just finished my tax return, so I can tell you for sure that I pay FICA (Social Security tax), and I will collect a benefit when I'm eligible. But here's the thing:
The cops and the firefighters pay 8.5% of their salaries toward their pensions; teachers pay only 5.5%. BUT...
And I actually learned something! Jim had on a president of one of the firefighters unions (sorry, forgot the name and the union; yeah, getting old...). He explained to Gearhart that both firefighters and police in New Jersey are not eligible for Social Security, and do not have FICA collected from their taxes.
Now, I'm a teacher, and I just finished my tax return, so I can tell you for sure that I pay FICA (Social Security tax), and I will collect a benefit when I'm eligible. But here's the thing:
The cops and the firefighters pay 8.5% of their salaries toward their pensions; teachers pay only 5.5%. BUT...