Eddie Donnelly, the president of the New Jersey Firefighters Mutual Benevolent Association, has been elected as the first chairman of a state board that will manage the Police and Firemen’s Retirement System (PFRS).
Donnelly was one of the driving forces behind legislation to allow a board of trustees where a majority of members were stakeholders – firefighters and police officers — in the pension system. The trustees will manage the fund.
After the bill was signed into law last July, Gov. Murphy appointed Donnelly as one of the trustees.
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Dear Mr. Donnelly I don’t know if it is allowed but I would like to suggest that the pension funds invest in covered call options to increase the return on investments. Whether short or long term covered calls I believe the funds rate of return could be increased while still maintaining a good measure of security. Of course I would suggest the funds have a good balance and only invest in highly traded stocks with good balances. Please look into this as we need to be more proactive in bringing back the COLA for retired members! Thank you for your consideration. Retired member of PFRS whose wife is also a retired teacher.
To Whom It May Concern:
Mr.Donnelly appears on Fox and Friends First and criticizes Democratic Governor for diverting $33 million in funds but fails to criticize IAFF for rubber-stamping endorsements to Democratic presidential candidates i.e. former V.P. Joseph Biden!