On July 1st. the New Jersey State Legislature finished the 2014 Spring Legislative Session, passed the FY 2014 – 2015 State Budget and adjourned for the Summer. Typically, the Legislature stays out of session until after Labor Day but in challenging times, as New Jersey currently finds itself in, there very well could be Summer Legislative Sessions. The main challenge facing New Jersey lawmakers and the Governor is how to fund the nearly $80 billion public employee pension system (which faces a massive deficit due to the failure of the State to make its required payments over the past decade) that pays for pension benefits of about 769,000 active and retired employees. Read your legislative update here...
Posted on: Thu, 03 Jul 2014 02:56:40 +0000
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