As stated in NJ.com, in December of 2012, a former Jersey City municipal inspector, Bennie Anderson, took a $300 payoff to change the tax description on a building zoned for two units to one zoned for three units. Anderson pleaded guilty and was sentenced in federal court to two years of probation, five months
As reported by NJ.com, New Jersey first responders who volunteered at Ground Zero after the Sept. 11 attacks are now eligible for an accidental disability pension under a bill signed into law by Gov. Phil Murphy on Monday. It was one of two 9/11-related measures Murphy signed during a ceremony attended by more than
According to an article published in NJ Spotlight, New Jersey’s public-employee pension fund investments generated returns totaling 9.06% for fiscal year 2018. Some of the investments that were credited for lifting the fund’s overall performance included U.S. equities and real-estate holdings.
The NJ pension system covers the retirements of approximately 800,000 current and retired public
As reported by NJSpotlight.com, a proposal to move some state and local employees to a new 401(k)-like pension system is gaining support because it has the potential to save billions of dollars. However, long before anything is adopted, it is likely to draw strenuous pushback from the public workers’ labor unions. The recommendation is
As reported in multiple news sources, the current New Jersey State budget signed into law by Governor Philip Murphy increased state spending by more than one billion dollars and a large portion of that increase is going to the state’s grossly underfunded public-employee pension system.
The new budget adds $700 million to what the state
As reported by NJ.com, Governor Phil Murphy’s administration is rolling back a change to New Jersey’s public worker pension system that Chris Christie slipped in during the waning days of his administration that raised government contributions by more than $800 million. The acting State Treasurer, Elizabeth Muoio, said Christie’s surprise reduction in assumed rate
As reported in the New Jersey Observer, during his last full day in office, Governor Chris Christie signed a bill on Monday to pad pensions for certain politicians. The fast-tracked bill, which sped through the legislature in less than a month, allows certain elected officials to re-enroll in the public worker pension system, even if
As reported by Philly.com, New Jersey Gov. Chris Christie is betting that the lottery is the ticket to shoring up one of the state’s most vexing money problems: ever-growing obligations to the pensions for public employees.
The idea of linking the lottery to pensions has been around for years, but legislation backed by the
As reported by N.J.com, furious after watching pension investment fees triple over the last three years even as their funds lost value, police and firefighter union leaders are seeking to wrest control of their underfunded pensions from the state.
As Gov. Chris Christie is set to deliver his final budget address, state Senate President
As reported by NJ.com, Governor Christie said his last budget proposal that will be revealed later this month will include a pension payment that meets the promised contribution schedule. To this end, Christie said the payment will be a $650 million increase over last. At that time, Christie proposed a $1.86 billion payment to