Per the NJDPB website:
12.14.20 The GASB 75 Reports for the Local Education Retired Fund are now posted.
1.11.21 The GASB 75 Reports for the State Retired Fund are now posted.
There are three separate reports for state, local government, and local education which throw a lot of distracting numbers at you but, when added up, show an amazing 1/3rd reduction in the total OPEB Liability (from $110 billion as of 6/30/16 to under $74 billion as of 6/30/19) that the state can brag about to the credit rating agencies. How did they do it? Benefit cuts?
No. Just telling the people you hire to give you the numbers that you want to see. Here is how they did it:
Over three years there was a $54 billion reduction due to ‘Differences Between Expected and Actual Experience’ and ‘Changes of Assumptions’. Who has been choosing the assumptions you may ask. From the cover letter to the reports:
The Plan Sponsor selected the economic and demographic assumptions and prescribed them for use for purposes of compliance with GASB 75.
Burypensions Blog 
Posted by Tough Love on January 12, 2021 at 10:33 pm
ANOTHER good reason why Elected Officials cannot be trusted with ANY form of Deferred Compensation (e.g. pension, retiree healthcare benefits, etc.), the TRUE accruing cost of which is so easily manipulated.
Posted by E on January 13, 2021 at 9:04 am
https://www.businessinsider.com/aoc-denounced-gop-reps-flouted-new-security-measures-at-capitol-2021-1?amp
Off topic—- she is 100% correct. I don’t agree with her socialism. But she is on point here. Many of these pro police folks really are “ rules for thee (especially if a minority, liberal, etc) and not for me. “
Quite candidly, I would strike with force ANY lawmaker who had the audacity to push me as I was trying to enforce the LAWS just created. You don’t like em? Change em. You’re a LAWMAKER!!!! Fake tough guys and gals making the situation for worse for the cops they supposedly support. (Just not financially so much, unless everyone hates you, then we play the law and order card to get the centrist voters)
Ocasio-Cortez is not my cup of tea for the most part but she nailed it on this one.
Posted by E on January 13, 2021 at 9:12 am
Sad that the Congress can’t even agree as a body on security measures for themselves and resort to ASSAULT because they don’t get their way. Disgusting.
We are a laughingstock and devolving as a country. We need to stop this shit. They act like spoiled children. Who the fuck are they to break the law and not be held accountable? One more week to go. Buckle your seat belts.
Posted by Tough Love on January 13, 2021 at 11:48 am
They seem to be turning it into a Political thing …. like refusing to wear masks.
Posted by E on January 13, 2021 at 9:16 am
https://nypost.com/2021/01/12/cause-of-death-revealed-for-georgia-man-charged-in-connection-to-capitol-riot/
And sorry. I do not mourn this mans death. It appears the country is a better place with him not in it. Cold? Maybe. Realist? Definitely.
Posted by Tough Love on January 13, 2021 at 11:51 am
Yes, cold. He obviously had mental issues way beyond the surface situation.
Posted by E on January 13, 2021 at 2:07 pm
Do you mourn him? I feel for his family. And maybe mental illness plays a large part of both left and right violence, but be that as it may, he played however small a part in the activities that were responsible for 5 deaths.
Perhaps his wife and family should’ve restricted his access to firearms. I guess a positive would be that he didn’t take anyone else with him.
Like the other Neadrathal who is on a hunger strike in prison because they won’t feed him organic food. I have zero sympathy for him (and anyone on a hunger strike—I think it is a dumb way to protest) and if we offer him food and he doesn’t take it and starves than so be it.
Posted by Rex the Wonder Dog!🐶🐶🐶🐾🐾🐾 on January 13, 2021 at 3:22 pm
He pleaded not guilty on Thursday, the Atlanta Journal-Constitution reported….Unlawful entry is a misdemeanor that carries a maximum penalty of up to 180 days in jail and/or a $1,000 fine in DC.
I am pretty shocked that most of these Dorks are only getting hit with misdemeanor beefs. Chewbacca Bikini Boi, AKA Jake Angeli, has been sitting in the can/in jail on three misdemeanors, and he is by far the most widely recognized protester, and he had a SPEAR with a flag attached to it! A SPEAR!
Posted by Rex the Wonder Dog!🐶🐶🐶🐾🐾🐾 on January 13, 2021 at 3:23 pm
Do you mourn him? I feel for his family. And maybe mental illness plays a large part of both left and right violence, but be that as it may, he played however small a part in the activities that were responsible for 5 deaths.
Played a PART in the DEATHS of 5 people?? Are you HIGH again EG??? Please….. What was HIS connection to ANY death?
Posted by Tough Love on January 13, 2021 at 6:26 pm
I read about that guy. Apparently the prison has agreed to feed him a “Shaman” menu, which they sated is organic.
https://www.thewhitearrow.net/shamanic-diet
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Posted by Rex the Wonder Dog!🐶🐶🐶🐾🐾🐾 on January 14, 2021 at 2:17 pm
“Like the other Neadrathal who is on a hunger strike in prison because they won’t feed him organic food. I have zero sympathy for him (and anyone on a hunger strike—I think it is a dumb way to protest) and if we offer him food and he doesn’t take it and starves than so be it.”
His name is “Chewbacca Bikini Boi” AKA Jake Angeli of AZ. And yes, that IS a spear 🤦♀️🤦♀️🤦♀️
Posted by geo8rge on January 13, 2021 at 11:30 am
Actual payments are slowly increasing, while reserves are deceasing. What I don’t quite get is how actual payments for medical costs are not growing faster.
Payments: $2434/$2344 = 1.04 4% over 2 years or about 2% a year. Aren’t OPEB medical costs? If so the only explanation I can imagine is medical providers are subsidizing the state of NJ patients by raising costs on non state of NJ patients. With the elimination of McCarren Fergusson for health insurers I wonder if, if my theory is correct, health insurance costs will explode.
Posted by NJ OPEB Partial Update – 2020 | Burypensions Blog on February 1, 2022 at 11:17 am
[…] coming when the state website releases the reports for the State and Local Government portions. In recent years these values have been dropping primarily due to assumption changes but apparently the state is changing course to make these […]
Posted by NJ OPEB Update – 2020 | Burypensions Blog on April 26, 2022 at 8:01 am
[…] education which throw a lot of distracting numbers at you but, when added up, show that after an amazing 1/3rd reduction in the total OPEB Liability (from $110 billion as of 6/30/16 to under $74 billion as of 6/30/19) the state actuaries sharply […]