Archive for the ‘New Jersesy Pension’ Category

Pension Chat With NJ Governor

NJBIZ recently had a Q&A with New Jersey governor Phil Murphy to “get an update on where some matters of critical importance to the state currently stand – and where they may be headed.”

First up, pensions. Here is the full Q&A on that topic but, respecting your time, I have highlighted in magenta the fluff that you can safely skip:

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Pension Reform for Weasels

“This is a pivotal moment in our state’s history. We’ll seize it like honorable men and women or squander it like pandering, spineless weasels.”

New Jersey state senator Declan O’Scanlon, R-Monmouth on Public Pension Reform

The set of reforms proposed this time are weaselly in themselves but the answer to Senator O’Scanlon’s query may lie in this remarkable simulation of how laws get enacted in New Jersey.

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Fault In Our States

In New Jersey, some want public workers to give up benefits to fix the state’s underfunded pension system. That’s puzzling to Governor Phil Murphy.

“It’s the state’s fault that we’ve got the deficit we have,” Murphy, 61, said in an interview Thursday after speaking at the Global Climate Summit in San Francisco. “Why would you do that if it’s the state’s fault?”

Bloomberg 9/14/18

Easy answer.

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Doing Something (Nothing) on NJ Pensions

Richard F. Keevey, a former budget director and comptroller for New Jersey, was one of 35 people who spent seven months looking for ideas to make New Jersey affordable and noted the urgency:

There are no quick fixes for the state’s ongoing budget crisis, but the best place to begin is with the chronically underfunded pension system…New Jersey’s budget problems did not develop overnight, but action is needed now. The state needs a new budget strategy for today and the future. Delay is not an option.

There is one quick fix being conveniently ignored and delay is exactly the option taken with the key pension recommendations being proposed:

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Conversations on NJ Pension Reform

New Jersey Assembly Speaker Craig Coughlin was On The Record today and this is what he had to say on pension reform:

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Four Issues of Free Speech

I had blogs set to go on some news of the day – two of which are getting massive media coverage while the other two barely return a blip on bing searches – but decided to conflate the four since they are somewhat related on one issue and I have only brief comments on each.

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NJ Pension – National Enquirer – Trump – and Christie Too.

It was recently announced that the New Jersey Retirement System is divesting from a private prison contractor that runs family detention centers and a gun company that makes semi-automatic rifles. Today’s target is Chatham Asset Management which owns the company that owns the National Enquirer which apparently has some information on hush money payments to two women who claim to have had affairs with Trump. But what the story did not go into was the Christie connection so we will do it here.

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