TRENTON N.J. – The governor signed Assemblyman Christopher DePhillips’ bill (A5427/S3871) that adds a member of the Retired Judges Association of New Jersey to the State Investment Council, which oversees the investments of seven pension funds including those for police and firemen, prison officers, judges, teachers and public employees.
While other public employee groups and unions had representation on the council, judges have never been included. The council was created before the Judicial Retirement System, which manages the pension plan for judges of the Appellate, Superior, Supreme and Tax courts.
“This law gives the Judicial Retirement System a voice in how its members’ contributions to the pension fund are invested,” said DePhillips (R-Bergen). “Judges have long deserved a seat at the table and with this law they will finally be given that opportunity.”
This law increases the council membership to 16 from 15 total members.