State law gives Gov. Phil Murphy the right to fill half the seats on the State Investment Council, a panel that plays a key role in the handling of public-worker pension assets. But six months after the governor was sworn into office, the state Senate has yet to consider his slate of eight nominees.
The holdup appears to be a matter of scheduling with the Senate, which has the right to review the governor’s nominees for the investment council to make sure they are fit for the job.
The delay has yet to directly impact any of the fiscal policies that are set by the investment council since the panel generally only meets once every two months to consider proposed investments and other matters related to the $78.6 billion pension system.