SFA Update – One Withdrawal

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed one plan withdrawing in addition to the three approvals announced earlier in the week.

Our updated summary of the 34 plans in the system – 13 approvals and 21 under review.

Cultivating Justice in the Garden State

The book drops tomorrow but David Wildstein has Chapter 3 – Settling Scores – on his blog so here is a taste.

NJ Chooses Insecurity

Enacted by state legislators and Gov. Phil Murphy in 2019, the New Jersey Secure Choice Savings Program was supposed to make IRA-type retirement funds available to state residents who work at private businesses with 25 or more workers.

This was supposed to be a windfall for those of us in the pension administration business anticipating employers who would not trust the state to secure pensions for their employees to set up their own private plans. However, the state has been missing deadlines and according to an article in northjersey.com, it may never happen.

SFA Update – Three More Approvals

The PBGC Special Financial Assistance program for troubled multiemployer plans approved three more plans for bailouts, and they went out of submission order for one.

SFA Update – One Revision; One Withdrawal

The PBGC Special Financial Assistance program for troubled multiemployer plans weekend update showed one plan withdrawing and reapplying immediately with another simply withdrawing.

Our updated summary of the 35 plans in the system – 10 approvals and 25 under review:

Stay in white-trash Kenilworth!!

Hectic tax time and with Central States taking their time applying for a bailout and New Jersey taking their time posting the GASB 75 report for the SHBP State Retired Fund, I was facing a few dark blogging days until today’s mail brought relief.

Here is what I got with my responses below.

NJ COLA Quotes

“Restoring cost-of-living pension hikes for N.J. public workers gets new life as inflation soars” was the headline of a lengthy article in nj.com through msn.com but the upshot was that it is not going to happen as politicians out of office and even some union representatives are wary, judging by these excerpts:

Sleep and Explosion Softball

Blog as file cabinet on a couple of fronts.

COLAs Off NJ Table

Apparently in every budget in the “history of the state of New Jersey”, until the last two, actuaries have been snubbed.

The Last Enforcer

Found the book not terribly outrageous (a Barkley slap; a Dolan snub) but you decide: