CONSTITUTIONAL AMENDMENT IS ONLY SOLUTION TO NJ’S PENSION CRISIS
WENDELL STEINHAUER | JULY 29, 2016 Every year for 20 years, the state has made some excuse, but there’s never been a full payment into public-employee payment plan New Jersey’s public-pension systems are large and complex, but the principle underlying them is very simple. In exchange for a career of service, the state promises public employees a secure pension. To fund that pension, the state and employees alike make regular contributions. Those contributions are invested to harness the power of the market over many years and create a fund that is able to pay the pension benefits earned by...
Read MoreOp-Ed: Retirees Suffer After Pension Reform Failures
By Janice DiGiuseppe/Burlington County Times/February 4, 2016 Assemblyman Declan O’Scanlan’s guest opinion, published Feb. 1 in the Burlington County Times, which stated that a constitutional amendment mandating pension payments would be a disaster for the taxpayers of New Jersey and for the people the amendment is supposedly intended to benefit, projects more useless political rhetoric. If agreements made in 2011 were executed due to reasonable economic growth that the legislators and the governor were counting on but did not happen, as O’Scanlan stated, puts forth that...
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