As reported by NJSpotlight.com, a proposal to move some state and local employees to a new 401(k)-like pension system is gaining support because it has the potential to save billions of dollars. However, long before anything is adopted, it is likely to draw strenuous pushback from the public workers’ labor unions. The recommendation is
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 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, 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 NJ.com, a State Correction Officer will get another chance to prove he deserves a higher pension due to a fight with an inmate who threw a tray of feces into his face, the Appellate Division ruled. George Garrett will get a new pension board hearing because an administrative law judge did
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
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
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