Noncompliance of New Jersey Municipalities with the ‘PERS’ Act
As a New Jersey public official, the recent OSC report should be of great concern to you, your municipality, and your constituents. As you may have heard, this report uncovered numerous failures by municipalities in New Jersey in complying with the PERS Act. The documented failures could result in local taxpayers having to provide pension benefits to individuals who are not entitled to them under your state’s law.
The media has taken aim at the report, and tensions continue to grow:
“Pension padding hasn’t ended, N.J. finds” – NorthJersey.com
Public and Council Discuss State Pension Report – Westfield Patch
The report suggests that municipalities obtain an opinion on section 7.2 compliance from an impartial attorney, though portions of this analysis would require a certain familiarity with the Internal Revenue Code. Gibson&Perkins, PC is a multi-practice law firm with attorneys admitted to practice law throughout the tri-state area. With four of our five attorneys holding Masters of Laws Degrees in Taxation, we have the background and experience to sufficiently address this issue on your behalf.
Although the report highlighted a problem which every New Jersey municipality must address, it also provided a solution – a solution that the law firm of Gibson&Perkins, PC, can assist you in resolving.
Contact us using the form below in order to set up a free consultation outlining some potential courses of action that your jurisdiction may wish to consider in light of the above.