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NJ Spotlight--Many Happy Returns: ‘Alternative’ Investments Buoy State Pension Plan…Rate of return exceeds projections but union officials question millions in fees paid to Wall Street ‘Just as Gov. Chris Christie and lawmakers are working on a new budget for the state’s upcoming fiscal year, officials who manage New Jersey’s public-employee pension system are busy crafting a new investment plan for the $72 billion fund. But while Christie has proposed increasing state spending by about $1 billion, thanks to growing tax revenues, the in-house pension-fund managers are facing a significantly more difficult scenario…’
Star Ledger--N.J. congressmen want federal funds to test school water 'U.S. Reps. Bill Pascrell Jr. and Donald M. Payne, Jr. introduced separate legislation Wednesday that would provide support for water testing in schools across the country...Pascrell's proposal, a companion to a bill being authored by New York Sen. Chuck Schumer, would create a $100 million grant program...'
NJ Spotlight--Many Happy Returns: ‘Alternative’ Investments Buoy State Pension Plan
Rate of return exceeds projections but union officials question millions in fees paid to Wall Street
Just as Gov. Chris Christie and lawmakers are working on a new budget for the state’s upcoming fiscal year, officials who manage New Jersey’s public-employee pension system are busy crafting a new investment plan for the $72 billion fund.
But while Christie has proposed increasing state spending by about $1 billion, thanks to growing tax revenues, the in-house pension-fund managers are facing a significantly more difficult scenario, including an uncertain investment climate and state contributions expected to be far less than what actuaries say they should be.
Those difficulties have amped up the pressure on how the pension system is being managed on an annual basis – and also brought on more scrutiny from the more than 770,000 public workers and retirees who are counting on the pension system to fund their retirements.
John Reitmeyer | March 24, 2016
Star Ledger--N.J. congressmen want federal funds to test school water
Two New Jersey congressmen want federal funding to be used to test schools' drinking water afterelevated lead levels were detected in water at the state's largest district.
U.S. Reps. Bill Pascrell Jr. and Donald M. Payne, Jr. introduced separate legislation Wednesday that would provide support for water testing in schools across the country.
"All Americans, and especially kids in our schools and childcare facilities, deserve access to clean water," Pascrell Jr. said. "Our job is to make it easier for the facilities to conduct needed testing by providing funding sources."
Pascrell's proposal, a companion to a bill being authored by New York Sen. Chuck Schumer, would create a $100 million grant program for schools and childcare centers that want to test their water.
Adam Clark | NJ Advance Media for NJ.com |on March 23, 2016 at 5:32 PM, updated March 23, 2016 at 7:58 PM
