Thursday, April 15, 2010

Pension Board Reform Moves Forward

Recently I filed comprehensive legislation to reform the operations of the Essex Regional Retirement Board (ERRB) that was produced through extensive collaboration with members of the Northeast Legislative Caucus and municipal officials from Essex County. Working with Senator Fred Berry and Senator Thomas McGee, my office co-authored a bill that not only reforms the ERRB, but also provides tools so that the Public Employee Retirement Administration Commission(PERAC) can intervene should another board require that type of action.

On Monday the Senate Ways and Means Committee, of which I am a member, reported this bill favorably to the floor of the Senate. Today the Senate passed this legislation by a unanimous voice vote, and it will move to the House of Representatives.

To read a summary of this bill, please click on “Read more.”

S2377 Summary