New Jersey Public Safety Officers Law Blog

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Public Safety Officers Law Blog

Dedicated to Corrections Officers, Policemen, & Firemen throughout the Garden State

Tag Archives: NJ Pension Crisis

Sweeney Wants Federal Loan Program To Rescue Public Worker Pensions

Posted in Public Employment Pension Crisis
As reported by NJ.com, State Senate President Stephen Sweeney said the answer to New Jersey’s rising public employee pension debt lies in creating a trillion dollar federal loan program that will help states avoid insolvency, spare millions of government workers from economic devastation and take the pressure off state budgets.  The government aid program, which… Continue Reading

NJ Pension Reform Fight Hits NJ Supreme Court

Posted in Uncategorized
As reported by NJ.com, nearly a year after Governor Chris Christie responded to a sudden budget crisis by slashing payments into the State pension system, New Jersey’s public labor unions will fight for their right to that money before the New Jersey Supreme Court on Wednesday.  A victory for the unions could send billions more… Continue Reading

CWA Director Welcomes Supreme Court Hearing On Pension And Benefit Payment

Posted in Public Employment Pension Crisis
As reported by Politickernj.com, after the New Jersey Supreme Court announced it would hear a case from Governor Chris Christie’s administration over the State’s decision to cut $1.6 billion from this year’s slated payment for the public pension and benefit, it drew a somewhat muted reaction from one union leader who has vocally opposed the… Continue Reading

NJ Supreme Court Agrees To Hear Pension Payment Case

Posted in Public Employment Pension Crisis
As reported by NJ.com, the New Jersey Supreme Court agreed to decide whether Governor Chris Christie broke the law when he slashed $1.6 billion from this year’s payment into the public worker pension system.  Christie’s administration, which had previously indicated it would file in the Appellate Division, last week asked the Supreme Court to relax… Continue Reading

NJ Treasurer: Making Full Pension Payment Would Have ‘Incredible’ Impact On Residents

Posted in Public Employment Pension Crisis
As reported by NJ.com, Governor Chris Christie’s treasurer said that the administration has reached out to lawmakers to comply with a judge’s order to work together to restore $1.6 billion to this year’s pension payment, but stressed that actually doing that would mean lots of budget pain for New Jersey residents.  A State Superior Court… Continue Reading

Lawmakers Take Aim At Christie Corporate Tax Breaks, Revenue Shortfalls

Posted in Public Employment Pension Crisis
To follow up on of one our previous posts, NJ.com has reported that the New Jersey Assembly passed several bills yesterday to combat the revenue shortfalls plaguing the State’s finances and scrutinize corporate tax breaks.  The legislation would force the Governor to collaborate on revenue forecasts and plan for shortfalls, clearly identify any new source… Continue Reading

Pension Gap Drops NJ’s Bond Ratings

Posted in Public Employment Labor Law
  As reported by app.com, New Jersey’s credit rating was downgraded by a major Wall Street rating agency, whose concerns over state debt and obligations for public retirees’ benefits now mean higher costs for the state to borrow money. Standard & Poor’s moved New Jersey’s bond rating down a notch to its fourth highest level. The move… Continue Reading
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