Category: Pensions

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

Published on 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

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

Published on 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 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 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

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

Published on 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