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‘Path to Progress’ hypocrite Sweeney decides he’s suddenly OK with the millionaire’s tax. | Rooney

Published on February 24, 2020February 24, 2020 by Matt Rooney

By Matt Rooney _ Yes, some Trenton Republicans slobbered all over Senate President Steve Sweeney’s recent decision to ‘get religion’ and declare, after many years of supporting higher taxes, that New Jersey is overtaxed. Those of us with memories which Read More

To fill the N.J. pension gap? Every resident would need to kick in $16k.

Published on October 26, 2019 by Matt Rooney

TRENTON, N.J. – Rarely a day goes by without New Jersey finding itself at the bottom of a “fiscal health” list. Next up: on Thursday, Yahoo! Finance analyzed data collected from the Pew Charitable Trusts, the Foundation for Economic Education, and Read More

MUST-READ: Almost 1/3 of N.J. legislators hold another government job

Published on October 22, 2019October 22, 2019 by Matt Rooney

TRENTON, N.J. – Another layer to the corruption plaguing New Jersey was highlighted by NorthJersey.com’s Ashley Balcerzak and Stacey Barchenger on Tuesday: Almost one-third of state legislators (37 in total) have one or more additional government jobs. Those jobs pad their Read More

Three ominous new indicators for Phil Murphy’s New Jersey

Published on October 8, 2019October 8, 2019 by Matt Rooney

By Matt Rooney _ I wish there was more good news out there, Save Jerseyans, but welcome to New Jersey 2019. Elections have consequences, and those consequences have been predictably grim. We have three brand new indicators from recent weeks Read More

New Jersey 2023: Legacy costs, debt service will eat 26% of state revenues

Published on October 7, 2019October 7, 2019 by The Staff

TRENTON, N.J. – Moody’s issued a stark warning on Monday evening about the scope of New Jersey’s public debt/pension crisis, one which has earned its pension system the dubious distinct of being among the nation’s least stable. By 2023? 26% Read More

N.J. public employees convicted of domestic violence don’t forfeit their pensions

Published on October 2, 2019October 2, 2019 by The Staff

TRENTON, N.J. – It may seem like a small issue in light of the New Jersey pension system’s massive problems, but one legislator finds it galling that a public employee convicted of domestic violence does not automatically forfeit his or Read More

Actuary legislator warns: New Jersey’s pension system is “real close” to being too far gone

Published on September 26, 2019September 26, 2019 by The Staff

TRENTON, N.J. – New Jersey’s basket case of a pension system is in bad enough shape without help from the Murphy Administration. This week, we found out that the system returned just 6.27% rather than the 7.5% projected as of Read More

PENSION EXODUS: 25% paid to non-New Jersey residents

Published on August 26, 2019August 26, 2019 by The Staff

TRENTON, N.J. – The New Jersey pension crisis would be bad enough even if 10% of pension recipients resided (and paid property taxes) in the state of New Jersey. 10% is the national average. But it’s not 10%. According to Read More

Underinvestment, mismanagement continue to drive N.J.’s pension liability crisis

Published on May 18, 2019May 18, 2019 by The Staff

TRENTON, N.J. – Wednesday’s Assembly budget hearing with state Treasurer Elizabeth Muoio raised plenty of eyebrows. During the hearing, Assemblyman Ned Thomson of Monmouth County (an actuary by trade with ample experience overseeing pension investments) warned that the Murphy Administration’s Read More

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Category: Pensions