Excerpt:
Jobs as judges, prosecutors, and municipal business administrators are the crock of gold at the end of a politician’s rainbow here and with bailouts, unlimited debt, and an apathetic tax base ripe for plucking politicians have an opportunity to sweeten the pots. According to politicoNJ that is exactly what they are planning on doing with five bills (one already enacted).
A4313: transfers Administrative Law Judges from the Defined Contribution Retirement Program to the Public Employees’ Retirement System. The Office of Legislative Services (OLS) estimates that this bill will lead to annual State cost increases resulting from the transfer of Administrative Law Judges from the Defined Contribution Retirement Program to the Public Employees’ Retirement System. The first-year cost could approximate $2million.In subsequent fiscal years, the annual State cost will grow as a function of increases in judges’ salaries and other economic factors. The bill may also make Administrative Law Judges eligible for healthcare benefit sat retirement that are not available in the Defined Contribution Retirement Program.
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S3197: Clarifies eligibility for deferred retirement for certain judges in JRS. PoliticoNJ guessed at who could benefit:
The bill appears to have been written with Middlesex County Prosecutor Yolanda Ciccone in mind, as she otherwise would have to leave the prosecutor’s position when she reaches the mandatory judicial retirement age of 70 in 2024 in order to collect her judicial pension. It also could potentially apply to Judge William Daniel, whom Murphy nominated last week as the next Union County prosecutor.
Author(s): John Bury
Publication Date: 19 June 2021
Publication Site: burypensions