Skip to main content

N.J. Governor Christie creates public pension study commission

New Jersey Governor Chris Christie on Friday created a panel to recommend reforms to the state's pension and health benefits for retired public employees.

_0">

The panel of experts will be charged with "thinking big and being bold when it comes to developing recommendations for how New Jersey can create a sustainable retirement and health benefits system," Christie's office said in a statement.

The governor began calling for a new round of pension reform in February but has yet to lay out specific proposals. New Jersey's Democratic legislative leaders had worked with Christie, a possible 2016 Republican presidential candidate, to craft 2011 pension reforms.

Those changes mandated annual increases in the state's pension contribution to make up for years of skimping, with a target for reaching the full actuarially required contribution of $4.8 billion in fiscal 2018.

But in May, citing financial constraints, Christie slashed $904 million from the state's contribution to the pension system for fiscal 2014. Using his budget veto powers, he then pushed through a $1.57 billion reduction for this year's budget as well. The reductions are the subject of ongoing lawsuits filed by union members.

Christie will name pension study commission members in the coming days, spokesman Michael Drewniak said in an email. The commission is supposed to report its findings to Christie within 30 days.

The panel will examine a "soon-to-be-completed" review of potential reforms being conducted by the state's Treasury department. It will also look at reforms in other states and private sector retirement benefits.

State Senate President Steve Sweeney said on Friday that by slashing state pension contributions, Christie had broken a promise to fund the system.

"The problems will be fixed if he simply keeps his word and provides the appropriate funding," Sweeney said in a statement. "Until the governor decides to keep that commitment, there will be no further discussion between us on pensions."

(Reporting by Hilary Russ in New York; Editing by Richard Chang)

Popular posts from this blog

Study Abroad USA, College of Charleston, Popular Courses, Alumni

Thinking for Study Abroad USA. School of Charleston, the wonderful grounds is situated in the actual middle of a verifiable city - Charleston. Get snatched up by the wonderful and customary engineering, beautiful pathways, or look at the advanced steel and glass building which houses the School of Business. The grounds additionally gives students simple admittance to a few major tech organizations like Amazon's CreateSpace, Google, TwitPic, and so on. The school offers students nearby as well as off-grounds convenience going from completely outfitted home lobbies to memorable homes. It is prepared to offer different types of assistance and facilities like clubs, associations, sporting exercises, support administrations, etc. To put it plainly, the school grounds is rising with energy and there will never be a dull second for students at the College of Charleston. Concentrate on Abroad USA is improving and remunerating for your future. The energetic grounds likewise houses various

Best MBA Online Colleges in the USA

“Opportunities never open, instead we create them for us”. Beginning with this amazing saying, let’s unbox today’s knowledge. Love Business and marketing? Want to make a high-paid career in business administration? Well, if yes, then mate, we have got you something amazing to do!   We all imagine an effortless future with a cozy house and a laptop. Well, well! You can make this happen. Today, with this guide, we will be exploring some of the top-notch online MBA universities and institutes in the USA. Let’s get started! Why learn Online MBA from the USA? Access to More Options This online era has given a second chance to children who want to reflect on their careers while managing their hectic schedules. In this, the internet has played a very crucial in rejuvenating schools, institutes, and colleges to give the best education to students across the globe. Graduating with Less Debt Regular classes from high reputed institutes often charge heavy tuition fees. However onl

Sickening moment maskless 'Karen' COUGHS in the face of grocery store customer, then claims she doesn't have to wear a mask because she 'isn't sick'

A woman was captured on camera following a customer through a supermarket as she coughs on her after claiming she does not need a mask because she is not sick.  Video of the incident, which has garnered hundreds of thousands of views on Twitter alone, allegedly took place in a Su per Saver in Lincoln, Nebraska according to Twitter user @davenewworld_2. In it, an unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of the customer recording her. Scroll down for video An unidentified woman was captured dramatically coughing as she smiles saying 'Excuse me! I'm coming through' in the direction of a woman recording her A woman was captured on camera following a customer as she coughs on her in a supermarket without a mask on claiming she does not need one because she is not sick @chaiteabugz #karen #covid #karens #karensgonewild #karensalert #masks we were just wearing a mask at the store. ¿ o