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In May 2005, [29] Governor Richard Codey named Murphy to chair the New Jersey Benefits Task Force on public sector employee benefits in response to the New Jersey pension crisis, a particularly long-running instance of the state-level pensions crises taking place nationwide. [2] [16] [23] The task force reported its findings in December 2005. [30]
A $56.6 billion spending plan for New Jersey that puts in place a new tax to fund NJ Transit, makes a full pension payment and covers the state's school funding formula is expected to be signed by ...
Norcross announced his candidacy on February 5, and within a week, he was endorsed by every New Jersey congressional Democrat, State Senate President Stephen Sweeney, General Assembly Majority Leader Louis Greenwald, Mayor of Camden Dana Redd, U.S. Senator Cory Booker, and former Governor Jim Florio (who represented the 1st from 1975 to 1990).
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Pension benefits are primarily designed to favor workers who work a full career (typically at least 25 years of service), which account for approximately 24% of state-level public workers. In a study of 335 statewide retirement plans, Equable Institute found that 74.1% of pension plans in the US served this group of workers well.
Baker, General Catalyst, and the Treasury Department were each faulted. As the report was publicly breaking in May 2014, Baker denied being an executive, employee, or investment adviser for General Catalyst, and denied knowledge that the Oscar Insurance investment came from New Jersey pension funds. [216] [217] [219]
Its session laws are published in the Acts of the Legislature of the State of New Jersey, commonly known as the Laws of New Jersey, [4] which are codified in the New Jersey Statutes (N.J.S.), [5] also referred to as the Revised Statutes (R.S.), [5] which are in turn published in the New Jersey Statutes Annotated (N.J.S.A.). [6]
The mission of the New Jersey Department of the Treasury is to formulate and manage the state's budget, generate and collect revenues, disburse the appropriations used to operate New Jersey state government, manage the state's physical and financial assets, and provide statewide support services to state and local government agencies as well as the citizens of New Jersey.