Would Greater Autonomy for New Jersey Public Safety Plan Improve its Fiscal Health? (Probably Not)

New Jersey Gov. Chris Christie recently vetoed a bill passed overwhelmingly by the legislature (60-4 in the General Assembly; 37-0 in the Senate). The bill (summary here) would have transferred the administrative and investment authority of the Police and Firemen’s Retirement System (PFRS) from the Treasury to the PFRS Board

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