New Jersey Likely to Cut Pension Contributions, S&P Global Says
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
When the crisis abates, the gap between well-funded plans and the others will be even larger.
Economic impact of virus could lower state pension valuation.
Called the ‘burnout bill’ by advocates, pension beneficiaries could retire after 20 years, but get no health benefits.
Real return is the $76 billion plan’s best-performing asset class.
Phil Murphy rejects proposed legislation as too broad and challenging to implement.
Action follows American Federation of Teachers’ critical report on Trump’s immigration policy.
Put beginning teachers and government workers into a hybrid plan to trim the state’s funding deficit, group says.
State pension system targets arms sales, using contractors instead of employees, and foreclosures on hurricane victims.