Site Map Icon
RSS Feed icon
Member Login


Not registered yet?
Click Here to sign-up

Forgot Your Login?
Action Center

Vote for elections, resolutions, and bylaws.

Submit your grievances, issues, and suggestions.

Upcoming Events
FMBA 9 General Meeting
Nov 05, 2019
Knights of Columbus #253 328 Union Av Elizabeth, NJ 07208 2nd Floor
Retirement Dinner 2019
Nov 08, 2019
Renaissance Hotel Newark Airport 1000 Spring Street (1&9 Southbound) Elizabeth, NJ 07201
FMBA State Meeting
Nov 13, 2019
Elks Lodge 281 Chestnut St Union, NJ 07083
NJ League of Municipalities
Nov 19, 2019
Atlantic City NJ
NJ League of Municipalities
Nov 20, 2019
Atlantic City NJ
Bill to Require Quarterly State Pension Payments Released by Assembly Panel
Updated On: Jul 06, 2015
Wimberly & Pintor Marin Bill to Require Quarterly State Pension Payments Released by Assembly Panel - TRENTON – Legislation sponsored by Assembly Democrats Benjie E. Wimberly (D-Bergen/Passaic) and Eliana Pintor Marin (D-Essex) requiring the state to make quarterly pension contributions was released Tuesday by the Assembly Budget Committee.

The bill (A-4605) would require the state to make its required pension contributions on a quarterly basis on August 1, November 1, February 1 and May 1 of each fiscal year rather than making a single annual contribution. This payment schedule would prevent the state from raiding the pension fund to balance the state budget at the very end of a fiscal year in the event of a revenue shortfall.

“The governor cannot continue to treat New Jersey’s public employees like playthings when it comes to the budget,” said Wimberly. “With just days left in this fiscal year, his only plan involves cutting the state’s pension contribution in an attempt to cover up his administration’s mismanagement. Our state’s public workers deserve better than the broken promises of this administration.”

“As a state, we have an obligation to stand up for the hard-working members of New Jersey’s middle class. We also have an obligation to act in a fiscally responsible manner,” said Pintor Marin. “Considering the volume of the state’s unfunded liabilities, it is clear that resorting to pension contribution cuts in order to close budget gaps will only create more trouble on both fronts down the road. This legislation would make sure paying into the pension is a priority.”

The bill would take effect immediately.

This article appeared on authored by Jennifer Sciortino.

Listen Live
Elizabeth NJ Fire Department Live Audio

Elizabeth FMBA Local 9
Copyright © 2019, All Rights Reserved.
Powered By UnionActive™

116948 hits since Dec 20, 2013
Mobile Version

Top of Page image