Over the past several days, the minority leaders of the New Jersey State Legislature have become increasingly vocal in their demands to renew what is commonly called the Interest Arbitration Salary Cap. The Interest Arbitration Salary Cap limits Interest Arbitrator’s economic awards that govern pay raises for first responders in the State of New Jersey.
While Chapter 78 increased the average healthcare contributions required of public employees based upon a sliding percentage of the cost of coverage, if Assemblyman Declan O’Scanlon’s proposal is implemented, public workers can expect to pay higher out-of-pocket costs toward coverage provided under a lower-level plan. In exchange, the Assemblyman’s plan provides for a constitutional
Chapter 78, P.L., 2011 (hereinafter referred to as “Chapter 78”) went into effect on June 28, 2011, and has increased the average healthcare contributions required of public employees substantially. However, not all employees and retirees are equally effected. This article will briefly outline the effect Chapter 78 will have on newly and prospective retirees.
Chapter
As reported by Morningconsult.com, with Congress just hours away from unveiling a new budget deal, it is increasingly likely that two prominent Obamacare taxes that help pay for the law — on medical devices and high-cost health plans (or “Cadillac Plans”) — will be delayed for two years.
Congressional negotiations have been overlapping on
As reported on NJ.Com, yesterday, Mary Jacobson, a State Superior Court Judge blocked an attempt by the Trustees of New Jersey’s largest pension funds to revise their suit seeking billions of dollars from the State to fund the pension system in light of a recent state Supreme Court decision. The state’s highest court in June
Yesterday, NJ.COM reported that Governor Christie was prepared to roll out sweeping pension legislation that would overhaul the way in which teacher pensions would be funded in the State of New Jersey. Presently, teachers pensions in the State of New Jersey are funded by the State and not the School District or Municipality that employs
As reported in NJ.Com, The Boards of Trustees of New Jersey’s largest pension funds plan to launch a probe into how the state awards fees incurred in managing pension fund investments. The Public Employees Retirement System Board of Trustees voted to conduct a forensic audit of the fund’s expenses, following a similar vote by the
On March 11, 2015, we posted a blog wherein Senator Sweeney stated that Governor Christie needed to change his tactics at the bargaining table regarding pension reform and if he instead concentrated on “growing” New Jersey’s economy, additional tax revenue would be created that would result in more money to fund the Public Employees’
Yesterday, I received an email from one of our readers, Ed Mecka, from Hoboken, New Jersey, who turned me on to an article regarding the pension crisis that is taking place in Memphis, Tennessee. The crisis in Memphis has caught the national media’s attention, and an article was printed in the Wall Street Journal a
As reported on the website, the New Jersey Politicker, Senator Sweeney recently questioned the labor negotiating tactics of New Jersey Governor Chris Christie. Sweeney went on the record stating “When you hear [Governor Chris Christie] focusing on pension reforms and benefit costs, it got the attention of a lot of people nationally. But the reality