Governor Comes Clean on Cost of State Raises

May 9,2018

the staff of the Ridgewood blog

Trenton NJ, while you been buy on the local election campaign Governor Murphy just handed out a nice payback to the unions that got him elected .Governor Phil Murphy said at the time he doesn’t know the cost to taxpayers of raises he gave to 35,000 New Jersey state […]

By |May 9th, 2018|Trenton|0 Comments

U.S. Supreme Court to Hear Unions vs Free Speech Case

February 23,2018

the staff of the Ridgewood blog

Washington DC, The Supreme Court is scheduled to return to Washington next week after nearly a month off. The justices will hear a number of important oral arguments, including a case involving free speech, and public employee unions.

Next Monday February 26th , the U.S. Supreme Court will hear arguments […]

By |February 23rd, 2018|2018|8 Comments

Reader says the state pension fund operates like a Ponzi scheme

Unfortunately the state pension fund operates like a Ponzi scheme – it requires new hire contributions to fund current liabilities. Putting new hires into 401K’s would bankrupt the funds almost immediately.

By |January 23rd, 2018|Trenton|3 Comments

Reader says Pension Crisis requires a number of solutions

The issue requires a number of solutions

1) Stop all new public employee hires from getting a paid pension Enable a 401k retirement plan similar to what many private employees subscribe to Why should we pay for these employees for decades they aren’t working
2) significantly increase public employee health care contributions This is real requirement for […]

By |January 22nd, 2018|village of ridgewood|8 Comments

New Jersey Heading Toward “a potentially catastrophic failure of its government pensions”

file photo by Boyd Loving

January 21,2018

the  staff of the Ridgewood blog

Ridgewood NJ, according to the Manhattan Institute for Policy Research New Jersey is running out of time projections show that the pension system, already the worst-funded in the nation, will continue taking on debt for at least five more years.

The Rockefeller Institute of Government at […]

By |January 21st, 2018|Trenton|15 Comments

California Moves to Cut Pension Benefits

January 12,2018

the staff of the Ridgewood blog

Ridgewood NJ, watch out New Jersey you could be next , for decades in California, a sacrosanct rule has governed public employees’ pensions: benefits promised can never be taken away.

But now the California Supreme Court has threaten to reverse that premise and open the door to benefit cuts for […]

By |January 13th, 2018|Trenton|2 Comments

2% cap on Arbitration Awards set to Expire , Property Taxes set to Zoom

file photo by Boyd Loving

December 19,2017

the staff of the Ridgewood blog

Ridgewood NJ, The League, along with a coalition of local government groups have made clear to the Legislature the need to extend the cap on arbitration awards , The league called on local mayors , saying “We know that hundreds of municipalities have publicly called […]

By |December 19th, 2017|Bergen County|4 Comments

Reader says The iceberg has been spotted, NJ is closing in on it fast and they are running out of other people’s money.

Doing something “swift and broad” will be far harder in light of the coming mass exodus of big dollar taxpayers caused by the double whammy of Herr Trump’s corporate tax hand outs (paid for by blue state property tax payers) combined with Murph’s soak-the-successful tax plan. The iceberg has been spotted, NJ is closing in […]

By |December 8th, 2017|Trenton|0 Comments

“Only swift and Broad Reforms Stand a Chance of Rescuing a System in Crisis” in New Jersey

December 7,2017

the staff of the Ridgewood blog
Ridgewood NJ, Gov. Chris Christie’s special commission on public pensions and health benefits released its final report on Wednesday: only swift and broad reforms stand a chance of rescuing a system in crisis.

New Jersey’s benefits for state government workers are now on track to consume a quarter of the […]

By |December 7th, 2017|village of ridgewood|2 Comments

New Jersey’s public-pension system currently holds less than 38 percent of what the state owes its retirees

November 27,2017

the staff of the Ridgewood blog

Trenton NJ, according to Michael Lilley in the article New Jersey Public Unions, Ascendant https://www.city-journal.org/html/new-jersey-public-unions-ascendant-15568.html ,

“New Jersey’s public-pension system currently holds less than 38 percent of what the state owes its retirees, which amounts to a $135 billion shortfall. Adding to this unfunded liability, the state also owes retirees […]

By |November 27th, 2017|Trenton|0 Comments