As reported in multiple news sources, the current New Jersey State budget signed into law by Governor Philip Murphy increased state spending by more than one billion dollars and a large portion of that increase is going to the state’s grossly underfunded public-employee pension system.

The new budget adds $700 million to what the state

As reported in NorthJersey.com, New Jersey Senate President Stephen Sweeney has plans to wring savings out of government which could fall hard on public employee unions.  Supposedly Sweeny wants to enlist Governor Philip Murphy as his “partner”, but Murphy wants no part of it.

Sweeney’s post-budget focus on cost cutting poses a dilemma for Murphy.

As reported in the New Jersey Observer, during his last full day in office, Governor Chris Christie signed a bill on Monday to pad pensions for certain politicians. The fast-tracked bill, which sped through the legislature in less than a month, allows certain elected officials to re-enroll in the public worker pension system, even if

Pension Crisis

As reported by JT Aregood from the New Jersey Observer, just months after Senate President Steve Sweeney declined to post a bill that would have effected the change with a voter-approved constitutional amendment, Democratic lawmakers in New Jersey passed a plan to require the state to make payments into its underfunded public pension system

Coins falling into jam jar labelled pension.

As reported by N.J.com, New Jersey’s distressed government worker pension system is now the worst funded in the U.S., according to a report by Bloomberg.

The Garden State’s public pension fund has languished near the bottom, but has now dropped below Kentucky and Illinois for last place, according to the report.

Their analysis compared

Healthcare Icon (2)

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

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

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