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 NJ.com, New Jersey’s public labor unions leaders say they are intently watching a case before the U.S. Supreme Court that could strike down compulsory membership dues and threaten how they are funded. The outcome is of major consequence in the Garden State and about 20 other states where public workers are
As reported by NJ.com, a key State Senate Committee approved legislation to ask voters to revise the New Jersey Constitution to require the State to ratchet up contributions to the public pension system. The Senate Budget and Appropriations Committee cleared the resolution along party lines, with Republicans’ opposition rooted in protecting taxpayers from severe
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
As reported by Samantha Marcus of NJ.Com, The Trustees of one of New Jersey’s largest government employee pension funds say they have been told by Gov. Chris Christie’s administration that they have no authority to request an audit of their fund’s investments, valued at about $80 billion.
In accordance with an article published on NJ.Com this past week, New Jersey’s low-end credit rating could fall again if the state Supreme Court rules that retired public workers are entitled to yearly increases (COLA) in their pensions, according to Moody’s Investors Service.
A lawsuit challenging one of Governor Christie’s pension-reform laws is pending at
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
As reported in NJ.Com as well as NJSpotlight, the State of New Jersey recently told thousands of union members whose contracts expired June 30, 2015, that they won’t be receiving annual incremental pay increases while there’s no new deal in place. In the past, State employees have received their annual increases if their performance
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 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