Public Unions Win in the Appellate Division on Increments.

Public sector unions won the appeal of the PERC decision that took away increments "without" a contract in the Appellate Division on 3/09/16. "The commission exceeded its authority when it determined that government employers don’t have to keep paying workers salary increments outlined in their collective bargaining agreements after those contracts expire." (Law360). We are now waiting to see if the Governor will appeal and if the NJ Supreme Court will take up the case.


NJ Supreme Court to Hear COLA Case

On Monday, 3/14/16, at 10:00 AM, the New Jersey Supreme Court will hear Governor Christie's appeal of the public unions victory at the Appellate Division.  "In June 2014, state appeals court ruled that New Jersey’s nearly 300,000 retired public workers have a contract right to yearly increases in their pension benefits, and those cost-of-living adjustments are part of the state’s benefits package. But for now, the ruling keeps in place a freeze on yearly pension increases Gov. Chris Christie instituted in 2011" (NJ.com).

Click here to watch the oral arguments at 10:00 AM.


N.J. Pension Investment Fees, Bonuses Top $700M in 2015

New Jersey's government worker pension fund paid about $728 million in fees to private fund managers last year, according to an annual report of the pension investments.

Public employees who say the fund's alternative investment returns don't warrant the high fees and bonuses have tussled with the board that oversees investment strategy, the State Investment Council, which says the declining fund would be worse off without those investments.

Click here to read the full article on NJ.com