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
The City of Paterson is looking at the possibility of ending its longstanding practice of using self-insurance for employee medical coverage and switching to New Jersey’s State Health Benefits program, as reported in Northjersey.com. By doing so, Paterson believes that it would save approximately 20 million dollars given that its cost for employee medical coverage
As reported in Northjersey.com, the Murphy Administration has reached a health care deal with the state’s public workers’ unions that is expected to yield approximately $500 million in savings over the next two years. The pact directs union members and retirees to utilize “in-network doctors” and “generic prescription drugs”, according to a report by the
In New Jersey under an existing employment regulation, state employees can donate unused time off to a co-worker who has exhausted his/her own allotted leave bank due to a catastrophic illness or injury that has kept them from returning to work. As reported on the website, NJSpotlight.com, State lawmakers want to see this longstanding policy
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 in NorthJersey.com, New Jersey Senate President Stephen Sweeney has plans to wring savings out of government which could fall hard on public employee unions. Supposedly Sweeny wants to enlist Governor Philip Murphy as his “partner”, but Murphy wants no part of it.
Sweeney’s post-budget focus on cost cutting poses a dilemma for Murphy.
As reported by NJ.com, retaining police officers has been a challenge for many New Jersey municipal police departments. Shortfalls in city and municipal budgets can, and have lead to layoffs and demotions. When Senior police officers retire their positions never get refilled and the data shows that this occurs more often than not in
As reported by Trentonian.com, following the publicity of numerous corrections officers beaten at work, Gov. Chris Christie has agreed to provide sick leave pay to prison workers assaulted by inmates.
Christie signed a bill into law on Monday that will make corrections, juvenile, parole and probation officers whole — albeit on a limited basis
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 JT Aregood from the New Jersey Observer, just months after Senate President Steve Sweeney declined to post a bill that would have effected the change with a voter-approved constitutional amendment, Democratic lawmakers in New Jersey passed a plan to require the state to make payments into its underfunded public pension system