As reported by NJ.com, Senate President Stephen Sweeney rejected calling for a crucial vote Monday on a referendum asking voters to constitutionally guarantee state payments into the government worker pension fund, killing its chances of appearing on the November ballot and disappointing public labor unions. The likelihood that Sweeney, once the prime champion of
PERS
Deadline For NJ Senate To Take Action On Public Worker Pension Amendment
As reported by NJ.com, Senate leaders have spent weeks trying to build a supermajority to override Governor Chris Christie’s opposition to a Transportation Trust Fund tax package, a plan that also holds the fate of a voter referendum on public worker pensions. And for the last week, they’ve said they’re within a vote or…
N.J. To Slash Pension Investments In Hedge Funds That Were Criticized By Unions
As reported by nj.com, the State Investment Council on Wednesday agreed to slash New Jersey’s investments of public-sector pension dollars in hedge funds by more than half, responding to labor union concerns that the alternative investments are not paying off.
At the council’s last meeting in May, union representatives called for drastic reduction in…
NJ Lawmakers Clash Over Forcing Bigger Pension Payments
As reported by NJ.com, State Senate President Stephen Sweeney and labor leaders defended Sweeney’s proposal to constitutionally enforce payments into the public pension system against arguments it’s a gift to special interests that will shackle New Jersey’s finances. The scrap between Sweeney and labor leaders versus Senate Minority Leader Tom Kean, Jr. and business…
Lawmakers Push Pension Ballot Question On Forcing NJ To Make Payments
As reported by NJ.com, a referendum to amend the New Jersey Constitution to require the State to make contributions to public worker pensions cleared the State Assembly Judiciary Committee on Thursday during a discussion that drew sharp criticism from a Republican lawmaker.
Assemblywoman Holly Schepisi (R-Bergen) faulted Democrats for pushing the legislation through without…
Sweeney Plan To Bypass Christie On NJ Public Worker Pensions Clears First Hurdle
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…
Legislation Introduced To Cement Promises To Fund Pension Systems
As reported by NJ.com, State Senate President Stephen Sweeney introduced legislation that would cement state officials’ promises to fund government workers’ pensions in the New Jersey constitution. Such a constitutional amendment requiring the State to make payments into the public retirement fund was expected to be the next step after the State Supreme Court…
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.
CWA Director Welcomes Supreme Court Hearing On Pension And Benefit Payment
As reported by Politickernj.com, after the New Jersey Supreme Court announced it would hear a case from Governor Chris Christie’s administration over the State’s decision to cut $1.6 billion from this year’s slated payment for the public pension and benefit, it drew a somewhat muted reaction from one union leader who has vocally opposed…
Qualifying For Accidental Disability Retirement Benefits: The Facts Matter
Unfortunately, during the course of a law enforcement officer’s career, "on and off the many officers become job" and "off the job" injuries and illnesses occurred and, which ultimately lead to, disabled both on and off the job one’s inability to continue to work as a law enforcement officer. If such an officer is unable…