Post by fiberisgoodforyou on Jul 13, 2007 23:46:26 GMT -5
LAW ON FORFEITURE OF PENSIONS BY OFFICIALS DOES NOT APPLY TO EXISTING PENSIONS OF CURRENT LAWMAKERS
Assemblywoman Jennifer Beck today expressed disgust at reports that State Sen. Sharpe James withdrew $500,000 from his Essex County College pension last Friday even as he is being investigated for potential corruption charges by the U.S. Attorney, and said this is another example that more needs to be done in the area of pension reform.
“The law the Legislature passed this spring essentially grandfathered the pensions of corrupt public officials collected prior to enactment even as several of those legislators are now under federal investigation,” said Beck, R-Monmouth and Mercer. “Clearly this bill fell short of providing the immediate protection the taxpayers deserve from public officials who abuse the public trust to personally enrich themselves.”
According to the Star-Ledger, State Sen. Sharpe James, the target of a federal corruption investigation, has withdrawn close to half of a $1.1 million retirement account at Essex County College, where he was athletic director more than twenty years ago.
The Legislature passed a bill in January, S-14, sponsored by State Senators John Adler and Ellen Karcher, that provided for forfeiture of a public pension if you are convicted of an offense related to that office. This bill would only apply to pensions collected after the date of the bill’s enactment.
Beck has sponsored a bill, A-4139, that would mandate the pension board to forfeit every public pension of officials convicted on corruption charges, including pensions collected prior to enactment of the law. By mandating the pension board to do so, her bill avoids ex post facto concerns since the board has always been empowered to do so – just not mandated.
Beck noted that rarely have pension boards exercised this power which is why the mandate is necessary.
This bill came in the wake of a federal monitor’s report accusing State Sen. Wayne Bryant of pressuring University of Medicine and Dentistry of New Jersey (UMDNJ) officials to create a $38,220 no-show job allowing him to “lobby himself” for taxpayer funds.
“We need to do more in the area of pension reform and the bill I introduced this spring would put a stop to this abuse,” Beck said. “We need to ensure that public officials are aware that any public pension they collected – even funds collected prior to enactment of this law – will be forfeited if they violate the public trust.”
Assemblywoman Jennifer Beck today expressed disgust at reports that State Sen. Sharpe James withdrew $500,000 from his Essex County College pension last Friday even as he is being investigated for potential corruption charges by the U.S. Attorney, and said this is another example that more needs to be done in the area of pension reform.
“The law the Legislature passed this spring essentially grandfathered the pensions of corrupt public officials collected prior to enactment even as several of those legislators are now under federal investigation,” said Beck, R-Monmouth and Mercer. “Clearly this bill fell short of providing the immediate protection the taxpayers deserve from public officials who abuse the public trust to personally enrich themselves.”
According to the Star-Ledger, State Sen. Sharpe James, the target of a federal corruption investigation, has withdrawn close to half of a $1.1 million retirement account at Essex County College, where he was athletic director more than twenty years ago.
The Legislature passed a bill in January, S-14, sponsored by State Senators John Adler and Ellen Karcher, that provided for forfeiture of a public pension if you are convicted of an offense related to that office. This bill would only apply to pensions collected after the date of the bill’s enactment.
Beck has sponsored a bill, A-4139, that would mandate the pension board to forfeit every public pension of officials convicted on corruption charges, including pensions collected prior to enactment of the law. By mandating the pension board to do so, her bill avoids ex post facto concerns since the board has always been empowered to do so – just not mandated.
Beck noted that rarely have pension boards exercised this power which is why the mandate is necessary.
This bill came in the wake of a federal monitor’s report accusing State Sen. Wayne Bryant of pressuring University of Medicine and Dentistry of New Jersey (UMDNJ) officials to create a $38,220 no-show job allowing him to “lobby himself” for taxpayer funds.
“We need to do more in the area of pension reform and the bill I introduced this spring would put a stop to this abuse,” Beck said. “We need to ensure that public officials are aware that any public pension they collected – even funds collected prior to enactment of this law – will be forfeited if they violate the public trust.”