New Pension Bills in NJ

New Jersey has a new legislature and a spate of pension bills have been introduced. Most are good-government initiatives that have no chance of adoption (listed at bottom of this blog) but one reform that Christie vetoed might have legs, per nj.com:

6 responses to this post.

  1. Posted by skip3house on January 21, 2018 at 12:00 pm

    How does this new board not become full of political appointments, highly paid, and as useless as NJEA’s separate political arm that just wastes dues $$ ?

    Reply

  2. Posted by Tough Love on January 21, 2018 at 8:01 pm

    Giving Police the control to increase their own pensions or reduce their own contributions WITHOUT they (NOT the taxpayers) being responsible for the financial consequences of promising too much, or contributing too little is ……. the definition of insanity.

    Reply

    • Posted by Tough Love on January 21, 2018 at 8:06 pm

      Or put another way, it’s a HEADS the Police win and TAILS the Taxpayer’s loose, because if the investments do well, they will increase their own benefits (passing along none of those gains towards reducing taxpayer contributions), and if investments do poorly, they will pass that shortfall on to the Taxpayers in the form of increased contributions.

      Reply

    • Posted by MJ on January 23, 2018 at 5:20 pm

      TL..as I’ve been saying the schemes become more idiotic every day. Of course they will reduce their contributions while enhancing taxpayer contributions..who wouldn’t! Its the police state and they do as they damn well please and don’t have to answer to anyone. Why become a doctor or an engineer, accountant or architect…….riight one has to be smart to do that……become a cop in a shore town you’ll be making 120K a year in no time and can retire at 45 on a disability pension then go on to work somewhere else and start all over……….after collecting your hundreds of thousands in unused sick and vacation time

      They feel that they deserve it and it’s just too complicated to say NO

      Reply

  3. Posted by Togrul Beg on January 22, 2018 at 1:57 pm

    What is Tom Kean thinking? Does he have any principle whatsoever in defending taxpayers?

    Reply

  4. […] management of the New Jersey Police and Firemen’s Retirement System to the members could be the first pension reform* of the Murphy regime. Yesterday it got moving […]

    Reply

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