Archive for the ‘New Jersesy Pension’ Category

Warning for Next Governor


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Consider the record:

At least it wasn’t diet (or ethics) advice that Christie was dispensing since he did alight on one valid point:

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Pension Surprises in NJ Budget?


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Though what is not mentioned is….

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Another Issue-Free Campaign

Phil Murphy is in the process of paying off media outlets up front and politicians prospectively in order to become the next governor of New Jersey without committing to any substantial plan of action on any issue of importance which is why this comment from an also-ran-to-be sparked my interest:

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So I dashed off a facebook message asking about his positions on pension reform and cleaning up the swamp that is New Jersey local government. The response came a few minutes ago with links.

Issues 1. Public Employees 2. Cutting Government Waste

The plan on cutting government waste is to have a state office with no power make up a report. The pension reform plan is even dumber.

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Ethics of Pension Padding in NJ

P.L. 2007, c. 29, which became effective on January 1, 2008, was reform legislation “designed to ensure the system serves career public employees rather than political appointees” and to “cut out the entrenched core of abuse that has been corrupting our pension and benefits systems from within.” One of the components of the new law, N.J.S.A. 43:15A-7.2,  excluded professional services contractors, such as municipal lawyers, architects and engineers from enrolling in the state’s PERS pension system.

At least one lawyer in New Jersey had a problem with that and his employers offered help.

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Piscopo Pension Proposal

While a reasoned report put forth by pension experts fades away and politicians fiddle with otiose gimmicks in an election year in New Jersey we have former governors recognizing the crisis:
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and a prospective governor stepping up:

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Christie’s 2017 Faint Agenda

More out of a sense of obligation at having to get through it (which is pretty much how New Jersey Governor Chris Christie treated it) here are pertinent excerpts from today’s state of the State speech where the big initiative for 2017 turned out to be coddling drug addicts.

Fortunately the audience did get through it with only one casualty.

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RFP for RIP Pension System

Now that politicians in New Jersey have run out of their own stupid ideas to (not) deal with the massively underfunded state pension system, according to njspotlight, they have turned to soliciting other people’s stupid ideas*.  This time, according to a Request for Proposals sent out on December 9, 2016, from investment bankers.

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