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Congressman Frank LoBiondo Announces That He Will Not Seek Reelection In 2018

first_imgCongressman Frank LoBiondo “Today I announce I will not seek reelection in 2018.”“I am sincerely humbled by the trust and responsibility the voters of New Jersey’s 2nd Congressional District placed in me. I am deeply appreciative of the lifetime friendships I have made across the 8 counties I represent. I am forever grateful to my talented and dedicated staff that have worked in the Washington and Mays Landing offices over the years.“As a freeholder, Assemblyman and now Congressman I always looked for solutions that produce real world results built upon cooperation and partnerships. People before politics has always been my philosophy and my motivation. Regrettably, our nation is now consumed by increasing political polarization; there is no longer middle ground to honestly debate issues and put forward solutions.“As expected, there will be those who wildly speculate about my choice without any basis in fact. My decision is not health-related as I am in good health and continue to maintain a full schedule.“My decision is not electoral. Throughout my career I have always made my constituents and the interests of my district my top priority, therefore I am very confident voters would again reelect me.“As I am term-limited as Chairman of the House Aviation Subcommittee and in my position on the House Permanent Select Committee on Intelligence, now is appropriate time to leave. Furthermore, as some of my closest colleagues have also come to realize, those of us who came to Congress to change Washington for the better through good governance are now the outliers. In legislating, we previously fought against allowing the perfect to become the enemy of the good. Today a vocal and obstinate minority within both parties has hijacked good legislation in pursuit of no legislation.“From day one I have always put South Jersey first and people before politics, giving 200 percent to representing our interests while promoting our way of life. From increasing veterans’ services and strengthening the footprint of our homeland security bases to growing our aviation industry and protecting our tourism-based economy through beach replenishment projects, I am immensely proud of the record I have accomplished. Helping people and constituent services is the most rewarding part of public service.“For a boy who grew up on a farm in Rosenhayn and looked to his father as a role model of how to do the right thing for the right reason, it has been a privilege to be South Jersey’s voice in Congress. I have always been focused, committed and determined to represent the people of South Jersey with honor and respect. The truly remarkable, caring and thoughtful people I have had the opportunity to meet, work alongside, and represent are the most rewarding gift that I will always remember and cherish.“My wife Tina and I are looking forward to the next chapter of our lives in South Jersey.”last_img read more

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Berger writes Coburn on importance of credit union tax exemption

first_img 4SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr NAFCU President and CEO Dan Berger detailed the economic importance of the credit union federal income tax exemption in a response Tuesday to a report released by retiring Sen. Tom Coburn, R-Okla., which calls the exemption unnecessary.“Altering the tax status of credit unions would have a devastating impact not only on credit union members across the country, but also on consumers and small businesses in general,” Berger wrote in his letter to Coburn, citing an independent study commissioned by NAFCU this year. “Eliminating the credit union tax exemption would result in the loss of 150,000 jobs a year, a shrinking of the GDP, and a net loss of revenue to the federal government.”Berger also cited a study from the Small Business Administration that found that credit union business lending has helped offset declines in bank business lending during the financial crisis, allowing small businesses to survive.Coburn’s report highlighted various tax expenditures throughout the U.S. tax code which he believes are unnecessary, including credit unions’ federal income tax exemption.NAFCU remains vigilant on protecting credit unions’ tax exemption.The NAFCU-commissioned study found that removing the credit union tax exemption would actually cost the federal government $15 billion in lost income tax revenue over the next 10 years and that gross domestic product would be reduced by $148 billion. continue reading »last_img read more

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Norway’s Askøy municipality weighs founding separate pension fund

first_imgThe Norwegian municipality of Askøy is considering setting up its own, separate pension fund for employees, once its current arrangement with pension provider Storebrand comes to an end.The local authority, which lies within the county of Hordaland around the west Norwegian city of Bergen, has put out a tender notice on the EU’s TED service, looking for potential service providers for a separate occupational pension fund.Many Norwegian public sector employers have had to look for alternative pension fund provision arrangements for staff since commercial providers Storebrand and DNB Livsforsikring announced two years ago they were pulling out of the public service pensions market.In the tender notice, Askøy kommune said its chief councillor was now preparing a case on the future provider of the occupational pension for employees. The local authority currently has an occupational pension for its employees in Storebrand, it said, adding that the case would be decided by Askøy’s municipal council.“The establishment of a separate pension fund will be a real alternative,” it said.Askøy said it was inviting tenders for a turnkey system for a separate pension fund in accordance with the main tariff agreement in the KS (the Norwegian Association of Local and Regional Authorities) tariff area.This is to include tenders for all the necessary liabilities and assets services, it said, with the exception of the manager, board and auditor.The Askøy municipality pension scheme had 1,750 active members in 2014, and 650 pensioners.Total premiums were NOK115m.The local authority said the contract would be subject to two possible renewals, starting 1 January 2016.It said it envisaged inviting three providers to tender.The deadline for receipt of tenders or requests to participate is 13 April.Following the exits of Storebrand and DNB Livsforsikring, the only external provider that will be left in the sector is Kommunal Landspensjonskasse (KLP).KLP is the second-largest provider of public service pensions in Norway after Statens Pensjonskasse (SPK), and has been expanding rapidly over the last year as municipalities and other public sector employers transfer their existing schemes to it.It has said it is taking in 150,000 new members as a result of the corporate exits by the end of 2014.DNB Livsforsiking has blamed its decision to leave the public service pensions business on the tightening of requirements and regulations, and the intense competition that exists in the market.Storebrand said it would have had to put a high level of investment into systems and processes to continue direct provision of public service pensions.Earlier this month, KLP reported a 100% rise in contributions last year to NOK62.5bn in 2014 from NOK30.9bn the year before, as municipalities continued to transfer their pensions to the scheme.In 2014 alone, KLP said 58 local authorities and 203 public businesses had transferred their pensions to it.Some local authorities have already moved to set up their own pension funds, however.Last October, Tromsø regional council in the north of Norway established the new Tromsø Municipal Pension Fund with 5,000 members and NOK2.5bn in assets under management.last_img read more

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Arsenal looking to go top of Premier League

first_imgArsene Wenger’s side passed up the opportunity to take first place on St Stephen’s Day – losing 4-0 at Southampton, for whom Shane Long scored twice.Their manager says he’s confident his squad is strong enough to sustain a title challenge.Tottenham could go third with a win away to Watford.  Three points from their meeting with Swansea could see Crystal Palace crack the league’s top four this afternoon. Elsewhere, Everton play host to Stoke, West Brom face Newcastle, Norwich take on Aston Villa, and Southampton go to West Ham.last_img

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Raptors and Suns suffer at home the comebacks of Blazers and Kings

first_imgSpanish gamers Ricky Rubio and Serge Ibaka have skilled related disappointments throughout the final NBA final evening, as Phoenix Suns have misplaced at home to Sacramento Kings (103-114) and Toronto Raptors have achieved the identical in opposition to Portland Path Blazers (99-101) , in each instances losing quite a few benefits in the closing minutes.Essentially the most ominous case was that of the Suns, who dominated by 21 factors in the equator of the third quarter (80-59) because of a basket by Devin Booker, who for the seventh consecutive recreation scored at least 30 factors, particularly 34. Picture: Reuters Nonetheless, these from Arizona dissolved in the closing moments of the recreation and conceded a partial 16-36 in the final quarter that condemned them to a brand new defeat, the fourteenth in 21 video games in entrance of their viewers this season.De’Aaron Fox (27) and the Serbian Nemanja Bjelica (19) have been in cost of turning the scoreboard earlier than an opponent who ended up throwing his good work on the floor throughout most of the recreation. Ricky Rubio contributed eight factors and 9 assists, whereas Deandre Ayton (21 and 9 rebounds) stood out once more in the inside recreation.Equally, the Raptors let loose a recreation that dominated by 13 factors in the closing stretch of the third interval (78-65) and on one other good evening of Serge Ibaka, who once more scored a ‘double-double’ with 17 factors and 11 rebounds.On this case, the executioner of the Canadian workforce was veteran Carmelo Anthony, who at 35 confirmed that he has not misplaced his monumental expertise. The facility ahead was the high scorer of the duel with 28 factors and additionally scored the mid-range basket that gave victory to his workforce in the absence of 4 seconds.In the subsequent and final motion of the evening, native baseman Kyle Lowry failed his triple pitch on the horn and Toronto conceded a brand new defeat that leaves him fourth in the Japanese Convention with a stability of 24-13.center_img Ibaka’s ‘double-double’ in Toronto’s loss to PortlandEight Factors and 9 assists of Ricky in opposition to Sacramentolast_img read more

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