GOOD BILL HUNTING CONTINUED FROM PAGE 25
“ This is my pension, too,” he repeated to the senate committee.
Donnelly led off testimony for Game 1 by asserting that this has come to fruition following two years of dissecting and culling from successful union-run pension systems across the country. He related how questions from adjoined parties like the NJ League of Municipalities contributed to the revisions that made the bill so palatable. And he vowed to the legislators how that would continue to be the case.
“ We come here today with facts built from actuarial and legal opinions,” Donnelly began with his testimony.“ We believe this hurts no law enforcement officer or firefighter, and if anybody in this chamber comes up with a reason why, you have my word we will stop and fix it.”
Colligan made a point that was reiterated throughout the review about the new PFRS partnering with the state’ s Division of Pension to handle the administrative work during the next five years. And then he moved the senators by making it personal in the way he does so well.
“ As I lay in bed, I can’ t think about waiting for the state to lose another. 84 percent of our investment,” he postured.“ Two-thirds of police and firefighters don’ t get social security, so we cannot respectfully count on the state of New Jersey to manage this anymore.”
If any shadow of a doubt remained among committee members – and it didn’ t really – NJ State FOP President Bob Fox shared how the State PBA and FMBA made a presentation about the bill to a special meeting of his board of directors. Afterward, they voted 8-1 to support the bill.
“ For the police and fire people of this state, this is the best way to make sure they get that pension check every month and that cost of living back,” Fox added.
Committee member Jennifer Beck responded to the testimony by inquiring about whether the bill had any built-in fiduciary protections. No question could have come at a better time, and Nixon took a swing at the response.
“ We have established this as a fiduciary fund. It’ s not about taking over the pension system,” he replied.“ It’ s about fully funding the system. Fiduciaries directing the full-funding obligation gives us a special level of protections and really makes this bill different than anything that has ever come through this committee.”
When the roll call came for the vote, committee members submitted thoughts that not only sealed Game 1, but ignited the Game 2 success.
“ It’ s a good first step in getting the pension straightened out,” Senator Anthony Bucco said.
And Senator Jeff Van Drew added:“ This bill has the potential to be a real trend-setter.”
After the vote, Colligan and Nixon adjourned for a little postgame commentary. Nixon surmised what transpired in the chamber and how it would impact the bill moving forward.
“ I think having the Senate Appropriations Committee pass probably the most significant change in the PFRS in 70 years, and pass it in a bi-partisan manner, speaks to how important our concept is to them,” he reacted.“ I think it sends a message to the rest of the Senate.” Filling the bill
Unanimous approval from the Senate, as well as similar response from the Assembly and the governor, probably didn’ t factor in all the information Nixon provided to PBA members during his March 8 presentation at the Mini-Convention. But if it does, it will be another home run.
Nixon articulated one more review of the bill’ s virtues, including what the bill covers, what it does not do and other points of emphasis.( The presentation is posted on the NJ State PBA website.)
To clear up some misconceptions, or perhaps correct some of the misinformation about the bill that has been circulating, Nixon presented a clarification that the bill does not:
• Privatize PFRS.
26 NEW JERSEY COPS ■ MARCH 2017