the staff of the Ridgewood blog
River Vale NJ, Assemblywomen Holly Schepisi sums up what most of us feel about the enormous pension black hole in New Jersey.
Schepisi said, “When I advocate for reforms to New Jersey’s pension system it is not because “I’m against teachers or government workers or anti-collective bargaining”, it is because our current system will collapse. Unlike the federal government, we cannot carry a deficit in the budget, we cannot print money. If NJ does not address these issues now by 2022 the state will have a $4 BILLION hole in its budget. As we stand today to close our pension gap would necessitate collecting $16,009 from every resident, including babies, in the State. We need to ensure that people who have paid in for decades get the benefit of what was promised. If we continue down the same path that will not occur. People on both sides of the aisle made promises they couldn’t keep. I think we all must acknowledge that the current system does not work. Let’s try to do something that helps those who have been in a long time with a blended solution moving forward.”
“The pension program in New Jersey is just 35.8% funded and is in the hole by a colossal $142.3 billion, according to the data from the Pew Charitable Trusts,” Yahoo’s editors wrote. “To close its pension gap, the state would need to collect $16,009 from each resident, including adults and children, says the Foundation for Economic Education. That would provide enough funding to pay out all of the retirement benefits that have been promised to state and local government employees in New Jersey. There are roughly 410,000″
Ok I’ll say because because nobody’s got the balls to say it:
Fuck all these civil servant theives and the union slobs that have been milking the taxpayers of Ridgewood and NJ for way to long. Pension gap?
FUCK YOU !
I see the sewer rat has reared his ugly head to spew his hate and foul language. Crawl back into the sewer where you belong rat, no body cares what you have to say.
The fervor and anger is jolting but not surprising…teachers, police etc PAY INTO THEIR PENSION FUNDS – the state politicians have robbed these funds and never matched them. They are the crooks. Labeling civil servants who chose their underpaying careers based on the knowledge a pension would be in place to offset the $$$ they did not earn in salary “thieves and slobs” and positioning them as “milking taxpayers” only completes painting the picture of hate and cowardice you so shamelessly portray. My sad, pathetic friend, you are everything that is wrong with society today. Sleep easy tonight knowing these very civil servants will continue to protect, educate and care for you without prejudice…and eventually a pension as well.