Video: Top New Jersey Lawmaker Weighs in on Pension Payment Ruling; Talks Taxing Millionaires to Fund Pensions

New Jersey Senate President Steve Sweeney sat down for an extended interview this week, and it didn’t take long for the conversation to swing to pensions. In the clip above, Sweeney shares his reaction to the court ruling that will force the state to pay its full pension contribution in 2015, pending appeal. Below, Sweeney talks about the idea ...

Panel Recommends Atlantic City Delay Payments to Pension System For Next Three Years

A task force has released its recommendations for staving off the financial collapse of Atlantic City, New Jersey. Buried in the report is one recommendation that might sound familiar to residents of New Jersey: that the city should defer its payments into the pension system for the next three years. From NorthJersey.com: State officials and people ...

Video: Christie, Caller Trade Jabs Over Pensions During Radio Segment

A retired police officer called in to Chris Christie’s monthly radio segment Wednesday night and accused Christie of “hurting the working man” with his pension cuts. Christie shot back at the caller, accusing him of “spewing union talking points.” Christie said of the caller: “You have a union-based political agenda…you guys crack ...

Would An Elected Comptroller Ease New Jersey’s Pension Pain?

Fixing New Jersey’s pension system has been the talk of the state lately, and as far as ideas go, all the usual suspects have been proposed: cutting benefits, making full actuarial contributions, transferring new hires into a 401(k)-style plan, etc. One idea that is rarely discussed is the creation of a model similar to New York: the appointment ...

Documents Shed New Light on Alleged Conflicts of Interest In New Jersey Pension System

Gov. Chris Christie has shielded his state’s pension system in recent weeks from allegations of conflicts of interest by asserting one thing: the State Investment Board doesn’t have input in pension investment decisions, it only loosely oversees them. But new documents obtained by the International Business Times suggest that the Council does have ...

Christie Dismisses Conflict of Interest, Pay-to-Play Allegations as “Garbage”

Journalist David Sirota has written a series of reports since over the last five months detailing the possible conflicts of interest and pay-to-play violations under the surface of the New Jersey pension system. On Monday, Christie gave his first extended response to the allegations and denied them categorically. From Politicker NJ: “There’s no ...

Video: Funding Shortfalls and the Politics of Pensions

  Here’s a short segment that dives into public pensions with Adrian Moore, vice president of policy at the Reason Foundation. The video touches on assumed rates of return, New Jersey’s funding shortfall and the politics of pension payments. The Reason Foundation is a libertarian-leaning think tank based in California.

John Bury: 4 Things The New Jersey Pension Panel Failed To Say

Over at Bury Pensions, actuary John Bury covers New Jersey pension developments as close as anyone. And there’s been a lot to talk about lately, as the New Jersey Pension and Health Benefit Study Commission just released their first report last week. But what wasn’t in the report is just as important as what was. While the report served ...

New Jersey Investment Council Member Defends Robert Grady, Pension Investments

The New Jersey State Investment Council, the entity that oversees investments for the state’s pension fund, has lately been embroiled in controversy revolving around Council Chairman Robert Grady and allegations of conflicts of interest driving investment decisions. On Thursday, one member of the Council, Guy Haselmann, defended Grady in a letter ...

Lagerkvist: Here Are the Seven Deadly Sins of the New Jersey Pension System

New Jersey’s pension system is shouldering $51 billion of unfunded liabilities. How did it get that way? In an editorial in the Philadelphia Inquirer, investigative reporter Mark Lagerkvist goes through what he calls the “seven deadly sins” of the state’s pension system. Excerpted from the article: #1 – Retirement shams A New Jersey Watchdog ...
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