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Tag: early retirement incentive

Board of Education Required to Pay Back $3.8M to Teachers’ Pension Fund

By on December 27, 2016 in Labor & Employment with 0 Comments

On December 22, 2016, the New Jersey Appellate Division in Middletown Township Board of Education v. Division of Pensions and Benefits affirmed the Board of Trustees of the Teachers’ Pension and Annuity Fund’s determination that the Middletown Township Board of Education offered an unauthorized early retirement incentive to its employees. The decision requires the Board to pay back approximately $3.8 million to the teachers’ pension fund. In October 2007, the Middletown Township Board of Education (“Board”) approved a Sidebar Agreement with the Middletown Township Education Association (“Association”) modifying the collective bargaining agreement between the Board and the Association. The Sidebar […]

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