ask Jim Mac Greevey where the pension money went ?
Reader asks so where did all that money from the pension piggy bank go if it didn’t balance budgets ?
Maybe if our Past Governors didn’t use the government employees pension systems as their personal piggy banks without repaying what they took, and if the municipalities and state actually paid in what they were suppose to there wouldn’t be a pension funding problem.Your State income taxes are about to go up even higher.
Whitman, McGreevy and Corzine played serious games with pension funds. But the health care benefits are an even bigger liability than the unfunded pension liability, $59bn vs $47bn. That’s over $100bn in unfunded promises made. Taxes may be going up, but benefits will have to be reduced, too, it’s not a one way street. Here’s a good question: We already have the second highest state and local taxes in the country vs,. one of the largest unfunded pension liabilities, so where did all that money from the pension piggy bank go if it didn’t balance budgets ?
