Reader says ,NJ Pension Liabilities paying for the past and ignoring investment in the future

Paying for the past instead of investing for the future? Explains much of why NJ’s economy is in the toilet. Will.be an interesting test case on what to do as the state spirals down into oblivion. New legislation will be needed to resolve the liabilities, many of the needed federal & state laws haven’t been […]

By |April 28th, 2017|NJ Pension Crisis, Trenton|2 Comments

Reader talks NJ Pension Fix

…this has been a problem for almost 4 decades. I wish there was a magic solution. Sen Moynihan was trying to figure this out and commented how convoluted and arcane the process was. I would think holding our washington reps accountable and stop re-electing them unless they work to divert more money home would be […]

By |April 24th, 2017|NJ Pension Crisis|1 Comment

Another report shows N.J. has worst public pension debt in U.S.

By Samantha Marcus | NJ Advance Media for NJ.com
on April 20, 2017 at 6:14 PM, updated April 21, 2017 at 8:14 AM

TRENTON — Another study has found New Jersey’s public pension system is in the worst shape of any state in the nation.

The state’s pension woes helped boost how much money public pension systems across […]

By |April 21st, 2017|NJ Pension Crisis|27 Comments

How N.J.’s public pension investments performed compared to U.S.

By Samantha Marcus | NJ Advance Media for NJ.com
on April 13, 2017 at 8:15 AM, updated April 13, 2017 at 8:51 AM

TRENTON — State-run government pension funds spent $10 billion on fees and performance bonuses in 2014 to private managers of their alternative investments, a strategy that has stirred controversy in New Jersey.

The report from […]

By |April 13th, 2017|NJ Pension Crisis|1 Comment

Christie Wants More Concessions From NJ Unions to Fix Pensions

By Salvador Rizzo • 04/10/17 4:50pm

Gov. Chris Christie. Joe Raedle/Getty Images

Gov. Chris Christie’s administration is holding meetings with New Jersey public-worker unions on a plan to merge the state lottery with the ailing pension system, and legislation could be introduced early next month, Christie said Monday.

The merger would be complex, since it would involve converting […]

By |April 11th, 2017|NJ Pension Crisis|1 Comment

N.J. labor union president steps down pending probe into missing cash

By Susan K. Livio | NJ Advance Media for NJ.com
on April 07, 2017 at 6:08 PM, updated April 07, 2017 at 8:32 PM
CWA Local 1039 President Lionel Leach stepped down Thursday union officials pursue an internal investigation into possible missing funds. (CWA 1039)

TRENTON — The president of a local chapter of the Communications Workers of […]

By |April 8th, 2017|NJ Pension Crisis|1 Comment

Jersey lawmakers look to dig the $135B pension hole even deeper

By Post Editorial Board

April 2, 2017 | 7:32pm

Jersey lawmakers just don’t get it: The state’s massive pension-fund shortfalls last week prompted Moody’s to downgrade Trenton’s credit rating for the 11th time under Gov. Chris Christie, yet the Legislature wants to make the problems worse.

Moody’s cited New Jersey’s gargantuan, and growing, unfunded pension liabilities as key […]

By |April 3rd, 2017|NJ Pension Crisis|7 Comments

N.J. public pension investments get some better news

By Samantha Marcus | NJ Advance Media for NJ.com
on March 29, 2017 at 4:49 PM, updated March 29, 2017 at 4:59 PM

TRENTON — After a year that saw New Jersey’s public worker pensionslose nearly a percent on their investments, state officials reported the fund posted a 8.62 percent gain since the fiscal year began in […]

By |March 30th, 2017|NJ Pension Crisis|0 Comments

Commentary: Jersey plan would exacerbate pension problems

file photo by Boyd Loving

Updated: MARCH 28, 2017 — 11:19 AM EDT

by Steve Malanga

State legislators worried about New Jersey’s deep pension debt are contemplating turning over administration of one of the largest retirement funds to workers and retirees. The idea behind the move sounds simple: Workers and retirees, who are beneficiaries of the system, can […]

By |March 29th, 2017|NJ Pension Crisis|0 Comments

Election-cowed legislators rushing big payoff to public unions

The Legislature is expediting a bill that would give state police and fire unions the power to reward themselves and their members at the expense of municipalities and taxpayers. Such fast-tracking of a law without public comment is an almost infallible sign state Senate and Assembly members know they’re serving their own interests and not […]

By |March 26th, 2017|NJ Pension Crisis|3 Comments