Pension and Benefit Study Commission

Non-Partisan Study Commission Asked To Think Big And Be Bold:

Governor Christie signed Executive Order 161 (13 kb) creating a non-partisan “New Jersey Pension and Health Benefit Study Commission.”

The panel of experts are tasked with thinking big and being bold when it comes to developing recommendations for how New Jersey can create a sustainable retirement and health benefits system. The Commission’s charge is to think long term and outside of the box when it comes combating these ever growing entitlement costs. The Study Commission will review:

  • The history of the State’s pension and health benefit systems in order to understand what has led to the current crisis;
  • The soon-to-be-completed Department of the Treasury’s Division of Pensions and Benefits’ exhaustive review of potential public employee entitlement reform proposals;
  • Reforms proposed and enacted by other states or government entities;
  • Pension and health benefits provided in the private sector; and
  • Other factors it deems relevant in order to develop recommendations regarding reform that will lead to the systems being in better financial shape with less cost to the taxpayers while providing public employees and retirees with an appropriate level of benefits.

Published Reports

Final Report (Dec. 6, 2017) (339 kb)

Supplemental Report on Health Benefits New Jersey Pension and Health Benefit Study Commission (Feb. 11, 2016) (1 mb)

A Roadmap to Resolution: Report of the New Jersey Pension and Health Benefit Study (Feb. 24, 2015) (949 kb)

Roadmap for Reform: An Agreement with the New Jersey Education Association (Feb. 24, 2015) (784 kb)

Truth & Consequence: Status Report of the New Jersey Pension and Health Benefit Study Commission (Sept. 25, 2014) (857 kb)

The Pensions and Benefits Study Commission welcomes the opportunity to review your ideas and suggestions to make the system sustainable for taxpayers and retirees.

Study Commission Experts

Thomas J. Healey, CFA, Partner, Healey Development LLC, former Asst. Sec. of the US Treasury for Domestic Finances under President Reagan. Mr. Healey will coordinate the work of the Study Commission.

Tom Byrne, managing member and founder of Byrne Asset Management; vice chairman of the New Jersey State Investment Council

Raymond Chambers, philanthropist, founding chairman of the NJ Performing Arts Center

Leonard W. Davis, CFO, SCS Commodities Corporation, manager of private equity, technology, and natural resource companies

Carl Hess, Managing Director of The Americas for Towers Watson and former Managing Director of Towers Watson Investment business

Dr. Ethan Kra, Ph.D, Ethan E. Kra Actuarial Services, specializing in analyzing economic and accounting implications of financing strategies and vehicles for employee and executive benefits

Ken Kunzman, Partner, Connell Foley, co-Counsel since 1978 of the Pension and Welfare Funds for Locals 472 and 172 Heavy and General Laborers Fund of New Jersey

Larry Sher, October Three ConsultingPartner, consulting actuary and member of the senior leadership team for a full service, actuarial, consulting and technology firm that is a leading force behind the reemergence of defined benefit plans across the country

Margaret Berger, Mercerconsulting actuary and Principal for the Retirement Practice of a global consulting leader in talent, health, retirement, and investments, with specific expertise in defined benefit plans, nonqualified plans and retiree medical and life insurance plans

Raj Tatta, Retired Senior Partner, PricewaterhouseCoopers LLP, with emphasis on being the key partner for Human Resource Services. He brought his skills to the Global Fund to Fight AIDS, Tuberculosis and Malaria with restructuring their Human Resources’ policies and procedures.

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Last Updated: Thursday, 06/27/19