Murphy and unions reach a workable pension solution
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But on Thursday, he found a way Designer Fake Bags to tread some treacherous political ground by retooling a terrible bill that could have Replica Designer Handbags allowed unions to increase pension benefits on their own and impose more costs on taxpayers.
The revised bill, which is certain to win approval, offers much stronger protections for taxpayers and is the first sign KnockOff Handbags that Murphy is Replica Bags willing to tame the unions that helped put him in office.
good quality replica bags He did it without any of replica bags the caustic melodrama that defined Chris Christie’s tenure. This was the product of patient negotiation over the course of several months, not the result of chest pounding Fake Designer Bags and demonizing public workers. good quality replica bags
bag replica high quality The flawed bill that landed on Murphy’s desk would have handed control of the Police and Firemen’s https://www.whhandbags.com Retirement System (PFRS) to a board dominated by unions. There’s nothing inherently wrong with unions managing their own fund, and it’s understandable that the cops and firemen Fake Handbags wanted to break away from the state’s other pensions funds especially since PFRS is in much healthier shape, with a total funded ratio of nearly 70 percent. bag replica high quality
aaa replica bags But Murphy saw that some of the technical details in the bill would put taxpayers at risk, so Designer Replica Bags he wielded his scalpel judiciously. aaa replica bags
Murphy cheap replica handbags has a chance to tell the unions no. He should take it. Editorial
designer replica luggage For starters, the governor set higher standards for benefits enhancements, such as the reinstatement of the cost of living adjustment Replica Handbags (COLA). Murphy, however, insisted that this can be executed only purse replica handbags after consultation with actuaries. designer replica luggage
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And Murphy recommended that PFRS replica Purse keep $26 billion in assets in the Department of the Treasury, because such a massive transfer would risk destabilizing the fund.
7a replica bags wholesale Another gift to the unions, another pummeling for taxpayers Editorial 7a replica bags wholesale
luxury replica bags Most alterations in his conditional veto were technical, and some smart people steeped in such technicalities will point out that Murphy still left too much on the table. Assemblyman Ned Thomson, R Monmouth, an actuary who has administered more than 500 pension plans, suggests the Wholesale Replica Bags governor’s revisions were mere “window dressing.” luxury replica bags
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Thomson, however, is a Replica Bags Wholesale minority high quality replica handbags voice in this debate. Legislative leaders gave Murphy’s recommendation their enthusiastic support. Union leaders were jubilant.
replica bags from china Even the state League of Municipalities which represents the taxpayers whose contributions account for 73 percent of the fund, and was vehemently opposed to the original bill praised the additional taxpayer protections included in Murphy’s version. replica bags from china
And the Legislature’s most voluble replica handbags online budget hawk, Sen. Declan O’Scanlon, R Monmouth, who believed the original plan was “toxic” and “destined to screw the taxpayers,” now wants to “commend” the governor and his policy staff for their “complete reassessment” of the original bill.
That’s an extraordinary coalition for such a complicated, contentious issue. They all agree that it was time for the unions to take control of their fund, as long as they were not dumping further obligations on taxpayers. In the end, the governor took steps toward assuring that won’t happen. It’s Handbags Replica a victory for the process.