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CHRISTIE CV'S BILL GIVING COPS, FIREFIGHTERS MORE CONTROL OVER PENSIONS

Thursday, May 11, 2017   (0 Comments)
Posted by: Annie Snyder
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CHRISTIE CV'S BILL GIVING COPS, FIREFIGHTERS MORE CONTROL OVER PENSIONS

NJSPOTLIGHT.COM | MAY 9, 2017

http://www.njspotlight.com/stories/17/05/08/christie-conditionally-vetoes-bill-giving-cops-firefighters-more-control-0ver-pensions/

Critics argue governor’s numerous recommendations significantly overhaul original legislation.  Gov. Chris Christie has conditionally vetoed a bipartisan bill seeking to give New Jersey’s police officers and firefighters more say over how their pensions are managed. Now it’s up to legislative leaders to decide whether they can accept his numerous recommendations or try for an elusive override.  Had he signed it outright, the bill that Christie sent back to the Legislature yesterday afternoon would have created a new board of trustees to administer the New Jersey Police and Firemen’s Retirement System, a proposal that came from union officials in response to their growing frustration with how their retirement fund has been managed by the state in recent years.  But Christie’s recommendations significantly overhaul the version of the bill that passed both houses of the Legislature with bipartisan — and veto-proof — support earlier this year.  For example, Christie is seeking to give local-government employers equal say on the proposed new PFRS board, and is also using the conditional veto to make a new call for capping how much police officers and firefighters can collect for unused vacation and sick days when they retire. Christie’s conditional veto would also require the new board to follow a series of changes that were established in a major 2011 benefit-reform law, including a set of specific employee-contribution rates, and it would also subject the new PFRS board to the state’s open-records and open-meetings laws.


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