WHELAN BILL TO PROTECT SENIORS FROM MISLEADING SECURITIES SALESPEOPLE APPROVED IN COMMERCE COMMITTEE

Measure Would Prohibit Marketing Gimmicks Designed to Trick Seniors, Retired Persons

TRENTON – A bill sponsored by Senator Jim Whelan which would prohibit securities sales professionals from using misleading titles or non-existent professional certifications to fool senior citizens into investing their money was approved by the Senate Commerce Committee today by a vote of 4-0.

“Many seniors, living on fixed incomes, can be rightfully very cautious with their investment portfolios,” said Senator Whelan, D-Atlantic. “These are folks who are living on limited retirement funds, and have to pick their investments very carefully. When a security salesperson bearing the phony designation of ‘elder planning specialist’ or ‘certified senior planning consultant’ offers specialty services catered directly to their needs, unfortunately, some seniors fall for this marketing gimmick.”

WHELAN ENCOURAGED BY PROGRESS WITH RED TAPE REVIEW COMMISSION

Senator Says Lt. Governor Has Considered His Recommendations for Atlantic City

NORTHFIELD – Senator Jim Whelan said today that he was encouraged by the progress of the Governor’s “Red Tape Review Commission,” and said that revising regulatory restrictions on the casino industry could help give the resort destination the flexibility and competitive edge it needs to maintain economic viability into the future.

“There’s no question in my mind that a major part of the problem in Atlantic City is the stranglehold of regulations choking the life out of the casino industry,” said Senator Whelan, D-Atlantic, the Chairman of the Senate State Government, Wagering, Tourism and Historic Preservation Committee. “While I don’t think complete deregulation is the answer, we need to review our State’s regulatory system, and create more flexibility where we can. Whether it’s Atlantic City’s casino industry, or the State’s builders or biotech industries, we can generate serious economic activity by scaling back some of the overregulation which has occurred for a number of years.”

FULL SENATE GREEN LIGHTS WHELAN GREEN ENERGY BILL FOR ATLANTIC CITY

TRENTON – The full Senate today unanimously approved a bill sponsored by Senator Jim Whelan that would pave the way for the increased development of wind power in Atlantic City, helping the state meet its ambitious renewable energy goals.

“If we expect to maintain our place as a leader in renewable energy, this project will be key to helping New Jersey explore new locations for wind-powered sources” said Sen. Whelan (D-Atlantic). “The Steel Pier in Atlantic City is an ideal test site for what will hopefully be other future projects of this kind along New Jersey’s coast.”

SENATE EMBRACES BIPARTISAN PENSION REFORMS
Senators Give Overwhelming Support to Measures to Protect Retirements
Of Rank-And-File Public Employees

TRENTON -  The full Senate today overwhelmingly approved a bipartisan package of legislation to return the state's pension and benefits system to its original goal of providing for the retirements of rank-and-file public employees and ensure the its long-term viability.

"These reforms are necessary to restore New Jersey's long-term fiscal footing and return sanity to a pension and benefits system that was allowed to spiral out of control," said Senate President Stephen M. Sweeney (D-Gloucester/Cumberland/Salem). "Without these changes, the state would soon have no option but to break its promise to career public servants."

TRENTON - Moments ago, after nearly three hours of mixed but mostly negative testimony, all members of the Senate Government and Wagering Committee moved to release the four pension reform bills from committee.

"I'm a school teacher, so it's a difficult issue for me," said Whelan. "But I'd like to touch on one thing - that we need these wonderful things to attract people to public service. One hundred years ago, when I became a teacher, we made lousy money. ...But we no longer make lousy money. The fact is public employees make above what the public sector is paying: teachers and police making over a hundred grand.

"We're here trying to save these pension systems, we're not trying to rob it," he added. 

"We all need to take ownership of this in order to restore solvency to our public pension system," said Senate Majority Leader Barbara Buono (D-Metuchen). "The day of reckoning is here."

Given the environment, Buono said she was disappointed at the lack of willingness from union and public employees for the reforms.

TRENTON - These measures would target women and minorities, argued CWA Local 1033 Prez Rae Roeder, who led the charge here this morning on the state Senate Government and Wagering Committee, which wants to move on a four-bill package of public pension reforms. 

"These bills are wrong," said Roeder.

Her gripe is that the biggest proposed reform impact would be to the Public Employee Retirement System (PERS), which is composed of 70-75% women and minorities.

Police and firemen and teachers are ticked, too, but their respective pension systems, respectively the Teachers Pension and Annuity Fund (TPAF), and the Police and Fire Retirement System (PFRS), don't weather the hit suggested for the on-average lower salaried PERS members, Roeder argued. 

The average pension benefits for state and local government workers is $35,412 and $31,533 respectively, compared to $41,993 for teachers, $70,972 for police officers, and $79,109 for state troopers.

Sources say the Senate Government Committee will hear a packed roster of opponents and proponents of public employee pension reform tomorrow before shipping it out with five votes in affirmation of legislation backed by both Gov. Chris Christie and Senate President Steve Sweeney (D-West Deptford). 

Then the Senate as a whole is expected to pass the bills on Monday, sending the package over to the Assembly side, where Republicans are already trying to make sure their labor-backed candidates can safely vote "no" or abstain with impunity.

Notwithstanding the question marks still surrounding the Assembly, the certitude on the senate and executive side has AFL-CIO President Charles Wowkanech taking a decidedly subdued and almost resigned approach to Trenton's unfolding reform narrative.

Of course, it's mostly from the sidelines now.

Gov. Jon Corzine essentially had an open door policy for labor.

Wowkanech has yet to speak to Christie.

"We fully realize the pension system is broke," the labor leader told PolitickerNJ.com. "Of course, we can point fingers all over the place."

He said he would prefer pension reform to be a matter decided not in the Statehouse chambers.

TRENTON - The august entrance that wasn't had people in the legislative chamber doing double takes that came up empty as Gov. Christopher Christie didn't immediately appear when Senate President Steve Sweeney (D-West Deptford) announced him.

It wasn't the only gaffe on this snow day, which Christie used to deliver a saber tooth budget speech to senators and assembly people, but didn't provide the fineprint to the liking of state Sen. Jim Whelan (D-Atlantic City) and other Democrats now in the position of being able to criticize a sitting governor from the other party for the first time in a decade.

"You're supposed to get the supporting documents in a timely fashion," griped Whelan. "The details weren't available so it's tough to comment. I'm sure it's just an oversight, and they will get the glitches out. If it becomes a pattern, then that's a problem." 

Whelan said he was concerned about Christie's decision to cut $475 million in aid to education as a way of closing a $2.5 billion state budget gap.

"I think given the crisis everything has to be on the table," Whelan said. "But I don't have the details right now to respond responsibly."

TRENTON - A damning performance report issued by the state comptroller and blistering follow-up critiques from a labor lawyer representing city employees and the aide to County Executive Dennis Levinson brought Atlantic City Mayor Lorenzo Langford to the front of the room in combat mode in front of a Senate Government, Wagering and Tourism Committee headed by Langford's old rival, state Sen. (and former Atlantic City Mayor) Jim Whelan.

"I welcome the oversight and scrutiny," said Langford, who last year defeated Whelan ally Councilman Marty Small. "We have reached out to the casino industry and have started meeting with all the stakeholders. But I want to say this: it seems to me that inefficiencies in government have been used as a scapegoat for the woes of the casino industry."

Comptroller Matthew Boxer, who testified today shortly before Langford, followed up on his 45-page Jan. 27 report, which cited numerous city government abuses, including the presence on the payroll of 11 aides to city council members making $484,000 total; the city's failure to foreclose on eligible properties, various over-the-line perks and bloated sick time policies for police officers, $8 million in unspent city bond proceeds, and the circumvention by political action committees of flimsy local pay-to-play ordinances.

The conditions have created anxiety among city workers - at the very least.

"City employees are concerned about furloughs, layoffs and demotions," said labor attorney Robert O'Brien, who added that despite an independent audit last April calling for a hiring freeze, the city forged ahead with more than 30 hires and wants to create a cultural diversity czar.

WHELAN: FOCUS ON WHAT WORKS ESSENTIAL TO COMPREHENSIVE GAMING REVIEW

ATLANTIC CITY – Senator Jim Whelan – chairman of the Senate State Government, Wagering, Tourism & Historic Preservation Committee –  today welcomed Gov. Chris Christie’s creation of a special task force to review the state’s sports and gaming oversight functions.