Pension payments: Why Murphy says making full payment is good …

Feb 28, 2023 · New Jersey’s out-of-control, way-too-behind-to-ever-catch-up pension payments have been holding down the state for a generation. Regardless of how you feel about the …

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Murphy Proposes $44.8B Budget That Includes First Full Pension …

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Feb 23, 2021 · New Jersey Gov. Phil Murphy on Tuesday unveiled a $44.8 billion spending plan for fiscal year 2022 that imposes no new taxes or fees and makes the state’s first full payment …

politico.com

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Murphy Proposes $44.8B Budget, Boosting Pension, School Aid

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Feb 23, 2021 · What to Know New Jersey will make its first full public pension payment for the first time in a quarter century, boost school aid by 7% and offer 760,000 families a $500 tax rebate …

nbcphiladelphia.com

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NJ Lawmakers Budget: Bigger Pension Payment, Stimulus Spending …

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Jun 22, 2021 · Murphy proposed a $6.4 billion pension payment earlier this year, the first full payment into the system in nearly 25 years. Lawmakers added another $505 million, a sort of …

usatoday.com

FAQs about Pension payments: Why Murphy says making full payment is good … Coupon?

Will New Jersey make a full payment to the public-worker pension system?

Gov. Phil Murphy delivers a speech Thursday at the New Jersey League of Municipalities' conference in Atlantic City. Gov. Phil Murphy told a room packed with local officials Thursday that he’s planning for New Jersey to make a full payment to its notoriously underfunded public-worker pension system for the third straight year. ...

How much will New Jersey's pension payment cost?

The pension payment will cost the state $6.38 billion. Treasurer Elizabeth Maher Muoio told reporters before Murphy’s budget address that had the state made full payments on time, New Jersey would have had to pay just $750 million into the system last fiscal year. ...

Will Murphy make state's first full pension payment since 1996?

The better than expected revenue estimates are enabling Murphy, a progressive Democrat who’s seeking reelection this year, to make the state’s first full pension payment since 1996. ...

Why is New Jersey pledging a $6.4 billion pension payment?

Gov. Phil Murphy is pledging a full payment to New Jersey’s troubled public employee pension system for the first time in nearly a quarter of a century, a proposed $6.4 billion infusion that Murphy is hailing as a symbol of the state’s fiscal resilience amid the second year of the coronavirus pandemic. ...

How much is New Jersey's state pension fund worth?

A key member of the Murphy administration delivered the latest update on state pension funding Wednesday during a public meeting of the New Jersey State Investment Council, a panel that sets policy for the roughly $87-billion pension fund. ...

Does New Jersey have a pension payment problem?

New Jersey's pension payment is not the only structural budget issue the state faces. It also has to pay back billions of dollars in bonded debt and hundreds of billions of dollars in health benefits to retired workers. Monday: Murphy signs NJ legal weed into law ...