Archive for the ‘New Jersesy Pension’ Category

NJ Retiree Update – December, 2021

Based on state pension data updated through December, 2021 there are 363,722 retirees getting annualized pensions of $12,395,368,150.

Through December, 2020 there are 358,277 retirees getting annualized pensions of $12,023,790,874.

There are now 4,789 retirees getting over $100,000 annually. Of those 118 are getting pensions of over $150,000 annually:

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NJ Politicians Not Getting Back In PERS Just Yet

Per Politico last month:

There’s a new effort underway in Trenton to reopen New Jersey’s pension system to politicians. State Sen. Joe Cryan (D-Union) introduced legislation Monday that would allow politicians who held pensionable public jobs before they were elected to a public office to re-enroll in the system from which they‘ve been barred for almost 14 years.

Yeserday, per POLITICO’s Matt Friedman— Pension-padding bill dies in New Jersey Senate:

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NJ Politicians Looking to Get Back In PERS

Per Politico last month:

There’s a new effort underway in Trenton to reopen New Jersey’s pension system to politicians. State Sen. Joe Cryan (D-Union) introduced legislation Monday that would allow politicians who held pensionable public jobs before they were elected to a public office to re-enroll in the system from which they‘ve been barred for almost 14 years.

Today those politicians took the next step as the bill was transferred to the Senate Budget and Appropriations Committee:

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NJ Retirees Back To Teaching

A5576 was passed unanimously out of committees of both houses today. The new law would:

Permit [a] school teacher who is retired from TPAF to return to employment during public health emergency and state of emergency for COVID-19 pandemic, for up to two years without reenrollment in TPAF.

Some detail on what should be enacted shortly:

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The Looming Tipping Point of New Jersey’s Pension System

Andrew Biggs prepared a report for The Garden State Initiative that focused on the impact of more retirees than employees.

Notable excerpts:

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NJ Pension Question

Good questions asked at today’s covid briefing:

The one-minute answer:

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NJ Active Update – September, 2021

Based on state pension data updated through September, 2021 of active participants in the retirement system there are 380,772 jobs (including several employees with multiple jobs) making total annualized salaries of $26,401,374,353. Of those there are 78 making over $250,000 annually (including several with multiple jobs) and a new top earner.

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NJ Politicians Looking to Get Back In PERS

Per Politico:

There’s a new effort underway in Trenton to reopen New Jersey’s pension system to politicians. State Sen. Joe Cryan (D-Union) introduced legislation Monday that would allow politicians who held pensionable public jobs before they were elected to a public office to re-enroll in the system from which they‘ve been barred for almost 14 years.

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A5998: Grant’s Pension Bill

The bill to grant Judge Glenn A. Grant the ability to defer his retirement and remain as administrative director of the New Jersey courts is on the Assembly docket for rubber stamping this Thursday.

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Special pension bill would help Grant, who is Black, keep top judiciary job

I augmented David Wildstein’s headline a bit to better capture the spirit of his NJ Globe story.

The bill looks like it is not on the state bill tracker yet as the legislature is only “preparing to fast-track” it but it should be similar to S3197 which sailed through earlier this year to benefit another judge.

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