As reported by NJ.com, just hours after Governor Chris Christie claimed he’d reached an “unprecedented accord with the New Jersey Education Association” that would “solve our long-term problems with the pension and health benefit systems,” the criticism poured in, from the NJLEA, from other union leaders and even a former New Jersey governor. NJLEA
Christie
Christie Pension Commission Recommends Plan For Fewer Benefits
By Donald C. Barbati on
Posted in Retiree Benefits
As reported by NJ.com, Governor Chris Christie’s high-powered pension commission has proposed a sweeping plan that would save the State billions in retirement and health care costs while reducing benefits for hundreds of thousands of public workers. The commissi0n says New Jersey needs to drastically change its pension and health plans. Christie’s budget address…
Judge Rules Christie Broke Law By Cutting Pension Payments
By Donald C. Barbati on
Posted in Retiree Benefits
As reported by NJ.com, in a significant blow to Governor Chris Christie, a judge ruled today that the Governor broke a law he signed by cutting $1.57 billion from a pension payment this year, and must now work with state lawmakers to restore the money. The decision could blow a massive hole in the…
Did Governor Christie Ever Have Any Intention of Keeping His Promise to Fully Fund the Pension System?
By Frank M. Crivelli on
As reported on NJ.Com, The State of New Jersey argued before a State Superior Court Judge today that Governor Chris Christie cannot be forced to make full pension payments because the 2011 law committing him to fully fund the state system in exchange for union concessions was unconstitutional.
Interrupting the assistant attorney general, Superior Court…
Will New Jersey’s Pension Fund Run Dry in Four Years?
By Frank M. Crivelli on
Posted in Retiree Benefits
As reported in NJ.COM, New Jersey’s unfunded public employee pension liabilities have soared to $83 billion, more than double previous estimates, as the state comes into compliance with new accounting rules, according to a report released today by Moody’s Investors Services, a Wall Street ratings agency.
Governor Chris Christie’s administration acknowledged the change in a…
The Current State of the Interest Arbitration Process: A Fractured System
By Donald C. Barbati on
Posted in Interest Arbitration
In accordance with a report issued by NJ.Com, more than 40 towns and counties filed petitions to compel compulsory interest arbitration in anticipation of the expiration of what is commonly referred to as the “2% cap” law. Today, April 1, 2014, a state law in effect since 2011 that caps interest arbitration awards at 2…
OLS: Christie Cannot Invoke “State of Emergency” To Cut Pensions
By Donald C. Barbati on
Posted in Uncategorized
As reported by njspotlight.com, despite his threat to take “extreme measures” to control rising pension costs, Governor Chris Christie does not have the power to declare a fiscal “state of emergency” to make unilateral changes to the pension system, nor does New Jersey have the ability, like Detroit, to declare bankruptcy to get out from…
Wieners Criticizes Christie On Pension Reform
By Donald C. Barbati on
Posted in Uncategorized
As reported on nj.com, the head of the State’s largest police union, The New Jersey State Policemen’s Benevolent Association, publicly criticized Governor Chris Christie in a press release over $50 million in what he called “pension giveaways” to local municipalities.
The giveaways, State Policemen’s Benevolent Association head Anthony Wieners said were gained on the backs…
NJ Law That Limits Local Police, Firefighter Raises In Contract Disputes Set To Expire
By Donald C. Barbati on
Posted in Interest Arbitration
As reported by NorthJersey.com, the state law that for the last three years has capped the raises that local police officers and firefighters can get if they take contract disputes to interest arbitration will soon expire, and lawmakers have yet to propose a bill to extend what local officials say has been a key tool…
Democrats Pledge to Fund Pension System
By Donald C. Barbati on
Posted in Uncategorized
Today, February 25, 2014, Governor Chris Christie is set to propose a new state budget. In a press release yesterday, State Democrats warned the Governor that he shouldn’t expect support for a proposed tax cut.
State Senate President Stephen Sweeney (D-Gloucester) and Senate Budget Committee Chairman Paul Sarlo (D-Bergen) also repeated that the spending plan…