Overtime never counted for teachers or government workers even pre-2010. I will have to research if police and fire could include overtime in their pension prior to 2010. It was my understanding that overtime never counted in NJ.
OT: Real Estate Question - Toms River/Brick and area
- Thread starter yesrutgers01
- Start date
Have heard from officers that hit did, but never did any research because it never mattered that much to me personally.
I am confident it did not in NJ. There are plenty of police hired pre-2010 and if overtime counted for them in any portion of the time they worked it would be discussed here.
Police and Firemen’s Retirement System tions . Base salary means the annual compensation of the member in accordance with the established salary policies of the member’s employer for all employees in the same position, or all employees covered by the same collective bargaining agreement . Base salary is paid in regular, periodic installments in accordance with the payroll cycle of the employer . • The PFRS contribution rate for Tier 1 members enrolled on or before May 21, 2010, is applied to the full pensionable salary (up to the federal pensionable maximum described later in this section) . • The PFRS contribution rate for Tier 2 and Tier 3 members enrolled after May 21, 2010, is applied to the pensionable salary up to a compensation limit based on the annual maximum wage for Social Security deductions . Members who earn in excess of the annual compensation limit will be enrolled in the DCRP in addition to the PFRS . A contribution of 5 .5 percent of the salary in excess of the limit (plus three percent from the employer) will be forwarded to a DCRP account (see the “New Jersey State Employees Deferred Compensation Plan” section) . Extra compensation is not included in base salary . Extra compensation means individual salary adjustments granted primarily in anticipation of retirement, or as additional compensation for performing temporary duties beyond the regular workday . Extra compensation includes, but is not limited to, overtime, bonuses, lumpsum longevity, vacation pay, holiday pay, and compensation not included in normal routine paychecks
While I do think the salary is high, my point was that there are in fact cops earning 200k.
My concern, though, is where the many cops and teachers earning 5 figures are going to live.
I don't think an entry salary is 150. It's probably 60-70.
Agree if you're making 150. But it's a big if.
I don't think it's adding more. I think it's ensuring enrollment doesn't drop.
I am aware of enrollment dropping in Monmouth County. Pre COVID and post COVID in all kinds of districts.
People are having less children. I don't foresee that really being an issue.
My point is, it's going to be years before these people earn that salary. Where should they live before that?
The more we push off the timing, the more people push into non-child bearing age. And then we get into who is going to care for children and the cost of it.
Or, just have a smidge of home construction that would allow people from the town, or those working there, not to have to worry about these issues. Idk, seems like not too big a deal to me but I live in a place where politicians brag about building affordable homes and not keeping them out.
I agree. I haven't moved back to Central Jersey. But if everyone moves north, I am not sure who is going to be a teacher and nurse in Central NJ.
Route 1 may have a lot of traffic but generally the area is called the "Brain Corridor" and it's a sought after area to live.
Not everywhere has to be built upon, but NIMBYs and the "Rent is too damn high" (or mortgage rates or home prices) are deeply correlated groups. One has to give...
The best is the guy who got free RU tuition and admission because of a union complaining about unions.
I have yet to see him offer to pay it back.
You’re the one that said 150. I followed your lead with my reply. No one is saying to put off families or that people are not welcome to “come home”. Home doesn’t need to be the hottest and most competitive real estate markets in the country. I never thought I could get a 2 bedroom apartment in soho when i was 23 why would this generation be entitled to a 4 bedroom house in certain sections of Monmouth County. Makes no sense. You go where you can afford. As I and others have said you can find great opportunities within 5-10 miles of this desired area.
Is affordable housing a 4 bedroom home? Please show me proof of that. What I've seen elsewhere in Monmouth County is 3BR max. Other towns in the area are doing it.
NYC has affordable housing, they have rent control, they have buildings with income limits, and the NYC Council is in the process of passing the "City of Yes" that will build even more.
In JC and Hoboken they are taking down the projects to rebuild a mixture of market income and affordable housing.
This concept is hardly controversial in much of the state.
This is simple supply and demand. If you only want costs to go up...then absolutely don't build anything. But if we want more people to afford homes we have to increase supply.
You’re contradicting yourself within the same reply.
No one is moving to central jersey (brain corridor)?but yet it’s a sought after area? Who is going to teach and take care of their health needs?
Prices are high because there is demand.
So, then those with the big house will sell and move somewhere else.
There is your inventory. Pricey, but it will be there.
Me not moving there and others wanting to move there and not being able is not a contradiction. It is sought after. Just not by me.
But also 1) I'm not a public servant 2) I work remotely and 3) I put value on walkability.
Where I live, they're building a whole new section of the city that is going to be 35% affordable housing...and the complaint was that it wasn't 50, lol.
That’s been your argument all along. Why should a person wanting to “move home” be forced into a 2 bedroom condo. JC and Hoboken is where they should be increasing supply. And building mixed use high density housing. With increased population leads to additional stressors on infrastructure and environmemt. Something rural and suburban communities cannot withstand. Yes suburban sprawl is what is needed. Come on
Absolutely. I don't think your generation is going to sell for less than they can though out of kindness when they retire, lol.
Now, maybe some of those homes get passed to public servants. But probably some will be passed to kids that will sell and build an addition to their house in Westfield.
It is a sad state of affairs if we're just waiting for generations to...ahem...move on...
Good luck when your taxes go through the roof to subsidize all your new neighbors. Sounds like utopia. Let me know how this works out for you in the long run.
OK. So let's say JC and Hoboken just build a ton.
Are we just going to tell people in the suburbs that if they need a nurse, or a school teacher, or social worker, just come to an urban area? And let's keep the suburbs people who want to just drive an hour for any and all needs?
If Wall wants to hire a teacher who just graduated from RU, should the teacher live in Hudson County? Commute sounds awful. But, I guess, just, like cope, because other generations commuted? Meanwhile, a home in Monmouth County was once very affordable on a teacher's salary and I had friends who had teacher parents that lived in a way you could not now. That is a problem IMO.
Why would my taxes go up...builders get to build the rest as luxury housing, and those people pay the taxes and other associated costs.
And, they build new schools and light rail stations to boot.
Why would she live in Hudson County?
There are lots of Apts available in Monmouth County. House to rent as well.
So you think it will be just as easy for your children's generation to access home ownership and other milestones as it was for yours?
It's cheaper but not very affordable.
And according to earlier in this thread, a terrible decision otherwise lol.
Maybe the Wall teachers can live in New Gretna. I am sure it is lovely.
So you think all of Monmouth/Ocean County is unaffordable? Many people commute. Shit I commuted to NYC from Manasquan. But I can put a pin in all of the schools and hospitals in and around Wall and find affordable rentals and houses for sale within miles.
Guess what my first house wasn’t in the town I am in now. My first apartment in NYC wasn’t a doorman building in the most desired neighborhood. I moved and bought where I could afford to build equity. Once that location didn’t or couldn’t suit my needs I moved on.
My wife and I wish we could have stayed in our first condo forever because we loved the area. But we outgrew and moved to another location that increased my commute by 25 minutes. We now settled into a house that more than likely will be our forever home. This was 3 stops in the making and an increase in price from start to finish of nearly 400k
Sure, it is. Especially for apartments or condos to rent.
You can get a 3brm house too with roommates where is 1K a month for each roommate...driveway for parking, laundry in the house, yard, breathing room.
All of the above save money. And sanity.
Many Wall/Manasquan/Brielle teachers live in town. But god forbid they live in New Gretna. Man who can survive on a 45 minute commute.
Seriously many commute from Ocean township Neptune, Freehold, Brick and Toms River. And you won’t have a problem finding an entry level house in those towns in the 400 range.
Even townhomes in Neptune these days are expensive. A new one by the outlets is over 600k.
I have seen 1 BRs for $2500. I am not sure where houses are 3k. Maybe off season for 9 months.
Ok if a new one is 600, how much do you think existing is going to be?
I know Neptune doesn't have a great reputation...but take a look at Zillow....it's incredibly expensive. Cheaper than Wall but not cheap by any stretch.
I appreciate all of that, but if you look at how much you think things cost now you would be surprised at what is out there. Go on zillow and see for yourself. It's eye opening,
I think if you're not earning over 100k, it's mostly unaffordable...and about half of NJ is in that bucket, and most of them are not living in the very southern parts where that is a strong salary.
Why are you buying at 21, 22, 23, 24?
Stay home, save money or rent for a bit to see what your employment future holds.
Outside of a retirement community, a 1 BR is going to be excess of 2k and closer to 25. Take a look at zillow.
I know this because I know of people who have looked recently. Go as inland as you like. You'll be in PA before you see a real significant drop.
I constantly search for real estate investments. I know what’s out there. You’re looking for problems versus solutions. You have people weighing in that live in this area with vast amounts of experience. We can’t all be wrong.
