Should employers first improve contractor wages or pensions? | The Tylt

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Should employers first improve contractor wages or pensions?
#FairWagesFirst
#FairWagesFirst
#PensionsFirst
#PensionsFirst
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There’s something happening in New Jersey that you may not have heard about. For quite some time, big developers have been marking down workers as independent contractors, increasing their own profits by lowering their workers’ paychecks and denying them benefits. In fact, a study conducted by Stockton University shows the glaring discrepancies in how these companies mark down their workers, barring them from having sufficient, fair wages or or even retirement plans. In taking steps to fix this, some believe workers should get their due pay while others think their pensions should be priority. What do you think?

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Should employers first improve contractor wages or pensions?
#FairWagesFirst
#PensionsFirst
#FairWagesFirst

Presently, having contractors fill out a 1099 as opposed to a W-2 bars them from gaining sufficient workers’ compensation. As a result, big New Jersey developers are able to circumvent labor laws that require them to pay their workers minimum wage and overtime, as well as workers’ collective bargaining rights. The aforementioned Stockton report even puts an average to how much these employees are making: $12,456 annually. That means each individual works, on average, over 1,200 hours at $10.83 per hour. 

#FairWagesFirst

But it isn’t only the workers that are getting robbed. As of last year, this underground construction economy has actually cost New Jersey an estimated $9 million per year in tax revenue. Enforcing fairer wage practices would not only improve upon employees’ quality of life, but benefit the state of New Jersey as a whole. Whether you’re for pensions or fair wages first, be part of the 62 percent of Jersey voters that want this talk of reform put into action. 

#PensionsFirst

It’s important to always have one’s future in mind. Prudent financial planning involves setting aside some money for later now, ensuring workers that they have a comfortable means to live by as time goes on. Contractors aren’t afforded those means, taking that assurance away from them. In fact, in New Jersey individuals are actually prohibited from membership in a retirement system should they be employed under a Professional Services Contract

#PensionsFirst

As stated by the Stockton study, the underground construction economy of New Jersey is not only underpaying independent contractors and forcing them to work in harmful conditions, but making it harder to find work. Each paycheck matters with regards to saving for the future. Ensuring that independent contractors are granted sufficient pensions produces a peace of mind that their future is bright and secure.  

VOTE NOW
Should employers first improve contractor wages or pensions?
#FairWagesFirst
#FairWagesFirst
#PensionsFirst
#PensionsFirst
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