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Pensions

WNYC News

Christie Argues His Own Pension Law Is Unconstitutional

Thursday, September 04, 2014

Governor Chris Christie has a new defense for cutting New Jersey's contribution to the state pension fund: that his own pension law is unconstitutional.

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New Jersey News

Are NJ's New, Riskier, 'Alternative Investments' a Good Idea?

Thursday, August 28, 2014

New Jersey is putting more pension money into private companies, real estate and hedge funds.

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WNYC News

Christie May Cut Pension Benefits for Younger Workers

Tuesday, July 22, 2014

But workers are protesting the possible cuts.

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New Jersey News

How Widespread Is Pay-to-Play in NJ?

Thursday, May 22, 2014

An investigation by the website Pando Daily shows possible widespread violations of state and federal pay-to-play laws in New Jersey.

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WNYC News

NJ Budget's 'Day of Reckoning' Has Arrived

Thursday, May 22, 2014

Chris Christie is hardly the first governor to raid the state's pension fund to plug holes in the budget. But it may be the end of the line for budgeting gimmicks.

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The Brian Lehrer Show

New Jersey Pensions - Political Investing

Monday, March 17, 2014

Lee Fang, contributing writer for The Nation, reporting fellow with The Investigative Fund at The Nation Institute, and author of The Machine: A Field Guide to the Resurgent Right (The New Press, 2013), talks about his investigation into the investment practices of New Jersey's public pensions by the Christie administration.

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Money Talking

Pensions. Be Afraid.

Friday, February 28, 2014

The looming crisis is getting closer — and it’s keeping elected officials like Chris Christie up at night. Here’s how cities and states are finding billions to fix the problem.

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WNYC News

NY's Public Pensions Still Invest in Guns

Wednesday, December 11, 2013

Almost a year after the mass shooting at a school in Newtown, Connecticut, New York’s public pension funds still hold shares in gun manufacturers.

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Money Talking

Why The Future of Public Pensions Could Be Bleak

Friday, December 06, 2013

Across the country, cities and states are trying to figure out how to address the growing public pension crisis. Collectively, they're underfunded by an estimated $1 trillion.

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The Brian Lehrer Show

Rolling Back Pensions in Detroit and Beyond

Thursday, December 05, 2013

Ross Eisenbrey, vice president of the Economic Policy Institute, discusses the decision to allow Detroit to roll back public pensions as part of its bankruptcy and the implications across the nation.

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WNYC News

Comptroller Says Pension Fund Contributions Could Ease Soon

Monday, July 29, 2013

New York State Comptroller Tom DiNapoli said there may be a glimmer of hope soon for fiscally-strapped cities. He said it's possible that local governments' pension payment obligations could be declining.

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WNYC News

Pension Offices Swamped as Public Workers Lock in Benefits

Friday, March 30, 2012

Little time remains for state and city workers to sign up for a more generous retirement plan. Earlier this month, Governor Andrew Cuomo approved a new class of pensions which goes into effect April 1.

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The Empire

Coalition Pushes for Mandate Relief

Tuesday, November 01, 2011

By Karen DeWitt, New York Public Radio Capital Bureau Chief

A coalition of business lobbyists, city and village mayors, and school boards are pushing hard for reduced pension and health benefits for their employees, as part of a package of mandate relief that they say is necessary to help communities around New York live within the new 2% property tax cap law.

The groups want public workers and teachers to pay a minimum amount for their health insurances, at least 15% for individuals and 25% for families. They’d also like them to accept reduced pension benefits in the form of portable 401(k)s, and require that injured workers are awarded less money in some cases if they are hurt on the job.

Brian Sampson with the pro business group Unshackle Upstate says the newly passed 2% property tax cap is not going to work, unless local governments and schools  get easements from those rules in order to cut costs.

“This is what the taxpayers are asking for,” said Sampson. “They want government that’s affordable.”

Governor Andrew Cuomo has created a mandate relief task force. It issued its first report last March, but contained no major shake ups to existing mandates. Sampson says the panel just “nibbled around the edges”.

Heather Briccetti, with the New York State Business Council, agrees.

“It’s very modest recommendations,” Briccetti said. “This is broader than what that task force has offered up.”

Governor Cuomo says mandate relief is “a work in progress”, and admits more needs to be done.

“It’s a continuing process, it’s an evolving process,” said Cuomo.

Cuomo was at a bill signing ceremony to require more health insurance coverage for autistic children.

Assembly Speaker Sheldon Silver, who also attended the event, says he thinks the governor and legislature took a “large step” this year toward mandate relief, and the Speaker says municipalities still want state money for the programs, they just don’t want to be told how to spend it.

“Which has its pluses and minuses,” says Silver, who cites instances of school districts receiving money for pre- Kindergarten  programs, and saying they want the extra cash, but do not want to implement pre-K programs.

Unions, whose members would feel the brunt of many the mandate changes requested, were incensed.  Danny Donohue, President of the state worker union CSEA, in a statement, accused the coalition of being a “front group” for Cuomo, and his “corporate allies”, who he says are using public workers as a “scapegoat”.

The coalition says they are responding to a request from the state’s Lieutenant Governor, Robert Duffy, who asked the audience at a recent Business Council meeting to provide specific examples of mandates that they find onerous.

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WNYC News

Mayor, Officials Unveil Plan for City Pension Overhaul

Thursday, October 27, 2011

Mayor  Michael Bloomberg, city Comptroller John Liu and labor leaders said Thursday that they've developed a plan to potentially make New York City a national leader in the way public pensions are governed.

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WNYC News

Hundreds of LIRR Workers Part of Pension Scam: FBI

Thursday, October 27, 2011

Hundreds of Long Island Rail Road employees may have scammed their way to large pensions in what prosecutors claim could amount to a $1 billion scheme, authorities said Thursday.

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The Brian Lehrer Show

Pension Deal Announced in New Jersey

Thursday, June 16, 2011

Democratic Assemblyman in New Jersey Reed Gusciora and Mark Magyar, Rutgers professor and NJSpotlight.com blogger discuss the pension deal announced yesterday by Governor Christie and the New Jersey State Senate and Assembly.

Comments [18]

WNYC News

Financial 411: Weekly Business Roundup

Friday, June 10, 2011

Apple makes devices consumers love to own, but other businesses have long complained that the company doesn't play well with others. Now, Apple is sweetening the deal for publishers. We'll also review this week's business news.

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It's A Free Country ®

Christie: Cuomo's Pension Plan Looks Like Mine

Friday, June 10, 2011

New Jersey Governor Chris Christie is playing up the similarities between his plans for pension reform and New York Governor Andrew Cuomo's.

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It's A Free Country ®

Cuomo's Last Minute Pension Proposal - Will He Get His Way?

Thursday, June 09, 2011

Governor Cuomo's proposal to reign in dramatically rising pension costs by creating a new "tier" for new public union hires is coming late in the legislative game. With only six session days left and a lot of outstanding legislative priorities (rent regulation laws, property tax cap, same-sex marriage) both Democratic and Republican legislators said it would be difficult to get the bill enacted before June 20.

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It's A Free Country ®

Richard Codey on New Jersey Politics

Friday, May 13, 2011

WNYC
My feeling is, if you’re the governor, you lead by example, and you can disagree with people, but be a gentleman. And [Christie's] style is different, and that’s his right, no question about it.

Richard Codey, former president of the New Jersey Senate and former New Jersey acting governor, on The Brian Lehrer Show.

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