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N.J. voters would raise taxes on the rich to fund public worker pensions, poll finds

file photo by Boyd Loving

By Samantha Marcus | NJ Advance Media for NJ.com
on March 21, 2017 at 6:18 PM, updated March 21, 2017 at 8:14 PM

TRENTON — The majority of New Jersey voters are willing to let the state’s wealthiest residents pick up the tab for government worker pensions but don’t want tax increases on […]

By |March 23rd, 2017|NJ Pension Crisis|12 Comments

HEADS THEY WIN, TAILS YOU LOSE

ANDREW SIDAMON-ERISTOFF | MARCH 21, 2017

Police and fire unions’ power grab sticks New Jersey’s taxpayers with the pension bill

Andrew Sidamon-Eristoff

In 1866, Surrogate Gideon J. Tucker wrote that “o man’s life, liberty or property are safe while the Legislature is in session.” Over a hundred years later, the New Jersey Legislature is doing its very best […]

By |March 22nd, 2017|NJ Pension Crisis|0 Comments

New Jersey Pension and Health Benefit Study Commission Concludes Trenton Politicians Made A Mess

March 21,2017

the staff of the Ridgewood blog with a little help from our friends

Ridgewood NJ, Funny you never mention all of the contributions that weren’t made since 1995. Why is that? Could it be that if the appropriate contributions were made the pensions would be properly funded today? Lets look at the Status Report of […]

By |March 21st, 2017|NJ Pension Crisis|2 Comments

Reader says , I’m sure the unions will do a great job managing their own pensions

Good news. The faster the plans go insolvent the faster benefits can be diminished. Wonder if the unions will lower the assumed rate of return from 7.65% to actual 20 year returns of only 7.2%? Maybe they can bet all of the funds on red in Atlantic City? Or use updated actuarial data on lifespan […]

By |March 19th, 2017|NJ Pension Crisis|9 Comments

Pension fund may soon be turned over to police, firefighters

By Samantha Marcus | NJ Advance Media for NJ.com
on March 15, 2017 at 8:10 AM, updated March 15, 2017 at 4:46 PM

TRENTON — The state Senate has passed legislation that would give police and firefighters the right to manage their pension fund and its investment portfolio.

Under the bill, passed 37-0 on Monday, a newly expanded […]

By |March 17th, 2017|NJ Pension Crisis|1 Comment

Reader says For New Jersey Pensions at the Current Cash Burn Rate, the Funds will be Insolvent in Less than a Decade

The math doesn’t work. The net asset value of the Pension Fund assets managed by the NJ State Investment Division was $72.9bn as of June 30, 2016. 41% of the 785,000 members in seven public pension systems are retired versus 51% of the members who are still working and contributing to the pension plans, while […]

By |March 8th, 2017|NJ Pension Crisis|0 Comments

How the lottery can help fix N.J.’s ailing pensions system

By Samantha Marcus | NJ Advance Media for NJ.com
on March 01, 2017 at 9:31 AM, updated March 01, 2017 at 4:31 PM

TRENTON — Gov. Chris Christie used his budget address Tuesday to take a final stab at saving government worker pensions, proposing to dedicate revenues from lottery ticket sales to the distressed fund.

Christie suggested the […]

By |March 2nd, 2017|NJ Pension Crisis|7 Comments

N.J. pension debt soared to $49B last year

N.J. pension crisis explained with popsicle sticks

Samantha Marcus | NJ Advance Media for NJ.comBy Samantha Marcus | NJ Advance Media for NJ.com
on February 28, 2017 at 7:30 AM, updated February 28, 2017 at 8:37 AM

TRENTON — New Jersey’s government worker pension funds lost a lot of ground last year, as the state’s pension debt rose […]

By |March 1st, 2017|NJ Pension Crisis|3 Comments

Pension fury: N.J. cops, firefighters just rose up against Christie

By Claude Brodesser-Akner | NJ Advance Media for NJ.com

on February 28, 2017 at 9:45 AM, updated February 28, 2017 at 10:46 AM

TRENTON — Furious after watching pension investment fees triple over the last three years even as their funds lost value, police and firefighter union leaders are seeking to wrest control of their underfunded pensions […]

By |March 1st, 2017|NJ Pension Crisis|2 Comments

How will N.J.’s next governor fix the pension system? We asked the candidates

Updated February 17, 2017
Posted February 17, 2017

By Claude Brodesser-Akner |NJ Advance Media

One of the biggest challenges confronting New Jersey’s next governor will be how to stop the runaway train that is our state’s pension mess. The long-term pension hole is $44 billion — nearly $10 billion more than the state spends on everything in given […]

By |February 18th, 2017|NJ Pension Crisis|3 Comments