Have Tax Questions? Ask a Tax Expert for Answers ASAP
I truly hope this information is helpful but please do not rate until you are satisfied. If you want to click on 1 or 2 just click on the continue to work with me button instead. You will then be able to add any other info or respond to what I have posted so far. Rating 3-5 gives me credit and a good rating but you can still converse with me.
I put in 10 years worth and my employer put in the next 10 years. I will have to check the contract..
The State of New Jersey Department of Labor and Workforce answer that very question on their website as follows:
"If you are eligible to receive a pension from an employer that is included on your unemployment claim, the benefits may be reduced. The term "pension" includes benefits paid in a lump sum, such as 401K, as well as pensions that are paid on a monthly basis. If you have applied, received or expect to receive a pension, a claims examiner appointment will be scheduled to discuss the pension. If you contributed the entire cost of your pension, your unemployment benefits will not be reduced. If you and your employer contributed to the pension, 50% of your the weekly pension amount will be subtracted from your unemployment benefits. If your employer contributed the entire cost of your pension, your unemployment benefits will be reduced by 100% of your weekly pension amount."