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Moody’s: New Jersey’s Pension Funds Could Run Dry in Just 10 Years

Mark J. Magyar | December 4, 2014 | Budget, Politics

Bond-rating agency cites NJ Treasury admission in bond prospectus that puts unfunded liability at $83 billion under new federal standards

Analysis: Partisan and Labor Politics Drive Battle Over Health-Benefits Reform

Mark J. Magyar | November 26, 2014 | Budget, Politics
Big question is whether Christie, Legislature set health-benefit payments or unions get back collective-bargaining rights
Size Doesn’t Matter -- Study of NJ Municipal Government Costs Concludes
Mark J. Magyar | November 17, 2014 | Budget, Planning
Rutgers analysts question ‘conventional wisdom’ that consolidation of state’s 565 municipalities would produce property tax savings
Analysis: Would an Elected Comptroller Solve NJ’s Pension Crisis?
Mark J. Magyar | October 7, 2014 | Budget, Politics
Moody’s: While New Jersey’s pension crisis is one of nation’s worst, independent comptroller kept New York State out of trouble
Analysis: Facing Budget Problems, Christie Plays Tax Amnesty Card
Mark J. Magyar | September 18, 2014 | Budget, Politics
Corzine’s 2009 tax amnesty generated a record $725 million windfall, but it would take a concerted campaign to match that success
Christie Grappling With Bond Downgrades, Budget Shortfalls, Casino Closures
Mark J. Magyar | September 11, 2014 | Budget, Politics
NJ’s fiscal woes mount as S&P cuts credit rating, Treasury admits budget shortfall and Trump Taj Mahal becomes fifth casino to face closure
Explainer: Why NJ's Unfunded Liability for Retirees Is $90 Billion and Rising
Mark J. Magyar | August 12, 2014 | Budget, Politics, Explainer
Funding gap grows because NJ continues to underfund pensions and covers retiree healthcare costs on pay-as-you-go basis
Christie Cites ‘Cadillac Tax’ In Push To Cut Public Employee Benefits
Mark J. Magyar | July 30, 2014 | Budget, Politics
Governor: Obamacare tax would cost New Jersey $261 million in 2018 and $837 million by 2022 if health insurance costs aren’t cut
Time Runs Out for Christie Plan for Lengthier School Days, Longer School Years
John Mooney | July 25, 2014 | Budget, Education, Politics
Administration's $5 million innovation fund one of the casualties of budget process
Christie Uses Vetoes To Drive Political Message For 2016 Campaign
Mark J. Magyar | July 1, 2014 | Budget, Politics
With Democrats powerless to override governor's vetoes, only courts can order state to make required pension payments
Analysis: Will Governor Christie's House of Cards Collapse?
Mark J. Magyar | June 30, 2014 | Budget, Politics
Governor banks on larger-than-life celebrity, but expanding investigations, mounting fiscal problems could undercut presidential hopes
After Christie Vetoes, Pension Battle Heads Back To Court
Mark J. Magyar | June 27, 2014 | Budget
Democratic-controlled Legislature’s passage of budget with tax hikes on millionaires and corporations is preordained exercise in futility
Judge Rules That Christie Can Withhold $900M Payment Into Pension Funds
Hank Kalet | June 26, 2014 | Budget
Superior Court magistrate declines to issue injunction sought by public employees union, citing 'staggering budget shortfall'
School-Reform Legislation, Education Aid Among Items on Year-End Agenda
John Mooney | June 26, 2014 | Budget, Education
Last-minute votes could delay Common Core-related tests, reconfigure impact on teacher evaluations
Poll: How Much of the Democrats’ Doomed Budget Do You Buy?
June 26, 2014 | Budget, Politics, Polling
From a fully funded pension to the millionaire's tax, do the Democrats have anything real to offer New Jersey?
Prieto Wins Argument On Limiting State Income-Tax Hike To Millionaires
Mark J. Magyar | June 24, 2014 | Budget, Politics
Democratic budget kills tax increases on e-cigarettes, Urban Enterprise Zone businesses
Analysis: Democratic Tax Plan is Just a Down Payment on NJ’s Fiscal Needs
Mark J. Magyar | June 23, 2014 | Budget, Politics
Christie’s veto of tax increases would leave insurmountable $4.3 billion pension gap to be made up by FY18
Democratic Lawmakers Sending Christie Another Tax Package To Veto
Mark J. Magyar | June 20, 2014 | Budget, Politics
Prieto endorses millionaire’s tax, corporate tax surcharge, and full pension funding as part of alternative Democratic budget
Sweeney Pushes Tax Hikes On Millionaires, Corporations To Fund Pensions
Mark J. Magyar | June 19, 2014 | Budget, Politics
Unilateral move by Senate leadership highlights split with Assembly Democrats, failure of talks with governor on negotiated budget
Analysis: Retiree Health Benefits Easier To Cut Than Pensions
Mark J. Magyar | June 5, 2014 | Budget, Politics
While unions prepare lawsuits over $2.4 billion pension cuts, Christie has precedent to target free healthcare for retirees next
NJ Digs Deeper Hole By Paying Just $2.4B of $8.8B Retiree Costs
Mark J. Magyar | May 29, 2014 | Budget, Politics
While Christie’s pension cuts make headlines, retiree health benefits make up lion’s share of state’s $90 billion unfunded liability
Analysis: Christie Administration Eyes Shift to ‘Hybrid’ Pension System
Mark J. Magyar | May 27, 2014 | Budget
Treasurer cites Rhode Island’s unique defined-benefit/defined-contribution pension plan as ‘interesting model’
Explainer: The Debate Over Defined-Benefit vs. Defined-Contribution Pensions
Mark J. Magyar | May 27, 2014 | Budget, Explainer
Both approaches have gotten a lot of press of late, here's a way to cut through the doubletalk
Sweeney, Prieto Vow Fight For Millionaire’s Tax, Pension Funding
Mark J. Magyar | May 23, 2014 | Budget
Democrats argue wealthy should pay higher taxes, but Christie threatens to veto any income tax hike
Democrats Fear Rebate Delay May Put Payments on Chopping Block for 2015
Mark J. Magyar | May 22, 2014 | Budget, Politics
With elimination of 2014 rebate, homeowners and seniors will receive average of just $1,188 in Christie's first five years, compared to $4,247 under Corzine and Codey
Christie’s $2.4 Billion Cut Triggers Battle Over Future of NJ Pension System
Mark J. Magyar | May 21, 2014 | Budget
Unfunded pension liability would skyrocket as governor ignores 2011 pension funding law, NJEA threatens lawsuit
Explainer: Why NJ’s Bond Rating Was Downgraded, and Why It Matters
Mark J. Magyar | May 20, 2014 | Budget, Explainer
Higher interest rates resulting from shaky credit status means it will cost more for the state to borrow money
The Politics of Closing the Budget Gap: Everything is NOT on the Table
Mark J. Magyar | May 19, 2014 | Budget, Politics
With Christie ruling out millionaire’s tax, real battle looms over pensions, ‘one shot’ gimmicks, and spending cuts
Strike 3! Moody’s Joins S&P, Fitch In Downgrading NJ Debt
Mark J. Magyar | May 14, 2014 | Budget
Bond-rating agency cites recurring revenue shortfalls, lagging economy, pension burden, and overreliance on ‘one-shot’ revenues
Analysis: $74 Billion In Future Pension Payments At Stake in Lawsuit
Mark J. Magyar | May 12, 2014 | Budget
Appellate Division ruling in COLA case also could set precedent on state’s obligation to make pension payments
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