It was a hectic day for over 300 NJSPBA members who crowded the NJ Assembly hallways in support of legislation that allows the Police and Firemen’s Retirement System to be managed by a board comprised of law enforcement, firefighters and government officials. I want to publicly thank all our members who made it to Trenton to gather support for this effort on less than 24-hour notice. Our membership always comes through when it matters—Thank you.
After years of underperforming investment gains and increasing hedge fund consultant fees, if the governor approves this legislation, this legislation will provide an opportunity for us, along with our brothers and sisters from the FMBA and the FOP, to protect our retirement funds.
I want to also thank the majority of Assembly members and State Senators who supported us in this effort. I encourage all of you to know your legislators and find out if they supported the NJSPBA today. Please contact me if you want information on the actual vote.