As stated in NJ.com, in December of 2012, a former Jersey City municipal inspector, Bennie Anderson, took a $300 payoff to change the tax description on a building zoned for two units to one zoned for three units. Anderson pleaded guilty and was sentenced in federal court to two years of probation, five months
Pension
NJ 2019 Fiscal Year Budget Funds The Public Employee Pension System at a Greater Level Than Ever Before
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…
Senate President Sweeney Wants To Put Public Employee Benefits and Pensions On the Chopping Block Again
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.…
During his Last Full Day in Office, Governor Christie Signs a Bill that Allows Politicians to Pad their Pensions
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…
Christie Banking that Lottery will Save Pensions
As reported by Philly.com, New Jersey Gov. Chris Christie is betting that the lottery is the ticket to shoring up one of the state’s most vexing money problems: ever-growing obligations to the pensions for public employees.
The idea of linking the lottery to pensions has been around for years, but legislation backed by the…
Another Pension Bill Sits on Christie’s Desk–What Will He Do This Time?
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 …
New Bloomberg Report Casts Dim Light on NJ’s Pension System
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…
NJ Republican Seeks to Reduce Government Health Care Costs in Exchange for Constitutional Amendment “Obligating” State Pension Payment
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…
Christie Tells State Pension Fund Trustee’s That They Have No Authority to Request an Audit
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.
Senator Sweeney is Correct–Christie Should Concentrate on Growing the State’s Economy as NJ’s Tax Revenue Recovery is One of The Poorest in The Nation
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’…