Tag: pension

Testa calls on Trenton to stop investing pension funds with Chinese pharma firm

VINELAND, N.J. – The COVID-19 pandemic has caused Americans – and some New Jersey politicians – to rexamine the wisdom of allowing China to serve a leading role in the pharmaceutical industry. State Senator Mike Testa Jr. (R-1) joined the Read More

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

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

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

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

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