NJ Watchdog fights for Guadagno pension probe records in appeals court

By   /  September 29, 2014  /  Abuse of power, Ethics, Fraud, New Jersey, News, Pensions, Politics & Elections, State Government, State Politics  /  No Comments

NJ Office of Information Technology

 
By Mark Lagerkvist | New Jersey Watchdog
The mystery of what happened in a criminal investigation of an alleged $245,000 pension fraud implicating Lt. Gov. Kim Guadagno may finally be solved in a New Jersey appeals court.
A New Jersey Watchdog reporter is appealing a lower court’s decision to not release three key documents that include the [...]

Read More →

NJ pension report bears bad news, but fails to bare abuses

By   /  September 26, 2014  /  Budget and Spending, New Jersey, News, Pensions, State Politics  /  No Comments

Photo by Tim Larsen, Governor's Office

New Jersey taxpayers will find plenty of bad news in the first report of the special commission Gov. Chris Christie appointed to study the $90 billion deficit in the state’s retirement system. Yet the findings ignored many of the weaknesses and abuses that have drained funds.

Read More →

Pennsylvania and Pittsburgh: A tale of two credit ratings

By   /  September 25, 2014  /  Accountability, Budget and Spending, Local Government, News, Pennsylvania, Pensions, State Budgets  /  No Comments

Pittsburgh's pension system is only 62 percent funded, but that's way better than it was just two years ago.

Pennsylvania just got slammed with its fourth credit downgrade in a little over two years. In contrast, Pittsburgh got an upgrade this summer. A local economist says that both still have substantive problems.

Read More →

New Jersey pension czar funnels money into fund his firm invests in without disclosing ties

By   /  September 24, 2014  /  Ethics, Finances, New Jersey, Pensions, State Government, Watchdog Citizen News  /  No Comments

Shutterstock Image

By Brad Matthews | WatchdogWire.com
Gov. Chris Christie’s friend and pensions overseer Robert Grady invested New Jersey money into a fund this his own private firm also invested in, according to the International Business Times, raising concerns about a conflict of interest.
In 2010, Christie appointed friend, former executive and GOP power broker Robert Grady to be the head [...]

Read More →

Fitch slaps PA with another debt downgrade as pensions, bad budgeting continue to wreck state’s finances

By   /  September 24, 2014  /  Finances, News, Pennsylvania, Pensions, State Budgets, State Government  /  No Comments

Shutterstock image

If three times is a trend, we’ll have to find another word to describe the fact Pennsylvania’s credit rating has been downgraded for a fourth time in just a little over two years.

Read More →

‘Seven deadly sins’ of NJ pensions add up to $104 billion debt

By   /  September 22, 2014  /  New Jersey, Pensions, Politics, State Politics  /  No Comments

Governor's Office/Tim Larsen

The fiscal future of New Jersey and Gov. Chris Christie’s presidential ambitions hang in the balance as Trenton finally faces the $104 billion deficit in the state’s retirement system.

Read More →