March 13, 2015
Re: Pension and Health Benefits Reform
Earlier today, League President Brian Wahler, Mayor of Piscataway, convened a meeting with League Leadership and representatives of each affiliated group to discuss the State Pension and Health Benefit Commission Roadmap Report (www.njslom.org/letters/2015-0306-Weekly-Update.html). At the meeting, Pension and Health Benefit Commissioner Tom Byrne and the Commission’s Counsel Ken Wilbur discussed the report and expressed a willingness to consider alternatives to the proposals in the report.
As a result of this meeting, five subcommittees have been created to explore and research different options. The subcommittees are as follows:
1. Freezing the Pension Plan with concessions.
2. Transfer the fund assets and liabilities to local governments, in some fashion, to manage.
3. Create a structure to manage the local pension funds similar to the JIF/MEL model.
4. Suggested reforms to the Health Benefits program.
5. Property Tax Impact
The subcommittees will be meeting in the upcoming weeks and report back their findings. We will continue to keep you posted on any future developments.
Contact: Lori Buckelew, email@example.com or 609-695-3481 x112.
Very truly yours,
William G. Dressel, Jr.