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 by the New Jersey Law Journal, the New Jersey Supreme Court recently clarified the meaning of the term “undesigned and unexpected” event as it pertains to qualifying for accidental disability retirement benefits for a mental disability in the case of Mount v. Board of Trustees, Police and Firemen’s Retirement System. In the
As reported by NJ.com, Governor Phil Murphy’s administration is rolling back a change to New Jersey’s public worker pension system that Chris Christie slipped in during the waning days of his administration that raised government contributions by more than $800 million. The acting State Treasurer, Elizabeth Muoio, said Christie’s surprise reduction in assumed rate
The Appellate Division once again the considered the “undesigned and unexpected” standard as it pertains to qualifying for accidental disability retirement benefits in the case of Mason v. Bd. of Trustees, Police and Firemen’s Retirement System. In the case, the appellant alleged she was injured while qualifying with a firearm for her work as
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
As reported by NJ.com, Governor Christie said his last budget proposal that will be revealed later this month will include a pension payment that meets the promised contribution schedule. To this end, Christie said the payment will be a $650 million increase over last. At that time, Christie proposed a $1.86 billion payment to
As reported by NJ.com, Gov. Chris Christie on Thursday signed a bill that will require the state to make quarterly payments to New Jersey’s ailing public worker pension system.
The bill is a reworked version of a measure Christie twice vetoed.
The new law will require governor to make pension payments on a quarterly
As reported by NJ.com, lawmakers voted overwhelmingly to send Governor Chris Christie a bill that will require the State to make quarterly payments to New Jersey’s ailing public worker system. The proposal, which cleared the Senate by a 35-0 vote and the Assembly 72-0, is a reworked version of similar legislation Christie twice vetoed.
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