Pension Crisis

On Tuesday, various state officials gathered just a few blocks from the Democratic National Convention to discuss the pension problems being faced by states across the country. Among the panelists was New Jersey Senate President Stephen Sweeney (D-Gloucester). Read about some of the interesting solutions proposed at: http://www.njspotlight.com/stories/16/07/26/how-can-new-jersey-other-states-rescue-underfunded-pension-systems/

 

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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

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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.

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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.

Tom Bruno, chairman of the board of

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 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