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Tuesday, December 13, 2016

A new bill, S-2842, is quickly moving thru the Senate.  This bill, sponsored by Senate President Steve Sweeney, would allow the director of the Division of Investment to use pension or annuity funds for some debt obligations of the New Jersey Transportation Trust Fund (TTF).  More importantly, this bill would bypass a State Investment Council (SIC) regulation that limits the purchase of bonds to 10 percent of the outstanding debt of the public entity. Email the Senate Budget Committee and tell them to vote NO on S-2842. 

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