So the economy is stuck in an equilibrium well below its production and employment potential, even as gross domestic product resumes modest growth" (p. 3).
As a public sector employee for the State of New Jersey Division of Criminal Justice, this means that some important ongoing initiatives such as gang awareness and enforcement may be cut back in the future. In my capacity as team leader with 4 years' tenure and 13 years' total employment for the State of New Jersey, I have a vested interest in the outcomes of these initiatives as well as the fate of the state's civil service cadre. In addition, I also work part time as a certified emergency medical technician, meaning I must remain cognizant of applicable licensure laws for the profession and how far my authority extends as a first responder. There is also the issue of substantial student loans that remain in limbo while I complete my education, and these obligations will have a significant impact on my ability to contribute to my retirement plans.
Other legal issues of interest that have an effect on my professional life include changes to Chapter 78, New Jersey P.L. 2011 signed into law by Governor Christie effective June 28, 2011. This law provides for changes to the manner in which the state-administered retirement systems operate and to the benefit provisions of those systems. The law also changes the manner in which the State-administered Health Benefits Programs operate and the employee contribution and benefit provisions of those programs. At present, the New Jersey Division of Pensions and Benefits is implementing the provisions of Chapter 78 (Pension and Health Benefits Reform, 2011).
Among the more significant changes that were included in P.L. 2011 that will have a personal effect was a change to the Public Employees' Retirement System (PERS) employee pension contribution rate which was increased from 5.5% to 6.5% of state employees' salaries; in addition, another increase is scheduled to be phased in during the next 7 years that will bring the total pension contribution rate to 7.5% of state employees' salaries (Pension and Health Benefits Reform, 2011).
Conclusion
The research showed that the United States is...
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