Reader says the $100K NJ state pension club is up 50% in two years to 1,474 members
Wow, the $100K NJ state pension club is up 50% in two years to 1,474 members ? How is that sustainable growth ? 43% of those in the $100K club draw their pension from the PFRS, and 92% of those took a “special retirement” at relatively young ages, which is a privilege only afforded to those in public safety and the judiciary.
Only 30% were teachers, 19% were judges, and only 8% were members of PERS. I’m sure this rapid growth has something to do with the fact that anyone who retired or had 25+ years of service time as of Jan 1, 2012 (which grandfathered them), only has to pay 1.5% of their healthcare premium with no changes to contributions for current retirees at this time.
Under Chapter 78 PL 2011. younger union employees and new union hires will have to pay up to 35% (pretax basis) of their healthcare premiums after a four year phase in whenever they come under a new CBA after this date.
Stop crying you could have been a cop or fireman but at the time the job didn’t live up to your parents expectation. Now you ride the train and complain.
#1 whoever u are” truer words were never spoken”
#1 — that’s a load of crap. we pay your salary (assuming you are a cop or fireman) and it’s wrong that you’re raping the taxpayers with unsustainable raises/pensions/benefits because the VC doesn’t know how to negotiate.
most studies have shown that public compensation is out of line with the skill, education, and responsibility as compared to the private sector. that is due to politicians spending other peoples’ money and they unattentive electorate.
-Thed.
After years of the same rhetoric, #3 you sound like the same old tired story, there you go still insisting on comparing cops and firemen to public sector employee’s if you don’t like the service provided move, don’t expect the public employees and their family’s to accept a lower standard of living so you can pay a little less tax, and don’t throw around a bunch of embellished, and extrapolated #s to attempt to justify your position, you are a anti union, anti working man, whiner, if you don’t like what the workers make leave and live in an area that is less service oriented, and don’t come back with a self righteous statement about why should I leave because “THEY” make too much money. I’m not a cop, or a hose jockey, but I firmly believe in their right to earn a good secure living and will pay some extra prop tax to afford it.
Hey # 3 if you smell smoke in your house just call your stockbroker or your banker. Meanwhile enjoy your train ride. And by the way when you use the phrase ” We pay your salary” It take a tremendous amount of skill , education and responsibility not to lock your ass up for being an idiot. Try saying that to a NY city cop or fireman.
Its unreasonable to expect states and municipalities to continue to make these contractual promises of pensions to retirees who also got generous salaries and benefits. Years ago workers would sign up for a govt/city/state job to put their time in (20-25 years) for wages less than the private sector with the trade-off being the security of a pension & generous health care benefits. Now we have wages that in many cases exceed the private sector, while still providing the pensions and benefits. At some point, the property tax increases necessary to fund the salaries, pensions, and health benefits will cause bankruptcies of municipalities, just like Detroit.
No it won’t the Detroit situation was entirely different. Changes have already been put in place to secure public pension funding, the conservative based war on unions in the private sector has redistributed wealth away from the middle class working person. Now the ability to use 3rd world worker who make 50 cents a day to compete against American workers union or not, has disrupted the working class to the point where several industries are all but extinct, (textiles, and manufacturing for examples) This goes back to the Clinton decision not to veto the nafta act. When decisions are made to gut the earning potential of an entire class of people your tax levy ( both income and property tax ) is sure to suffer. The fact that some public sector wages out pace private sector wages is a factor of loss of private sector earning potential not that public employees are paid too much.
welcome to Detroit
#7 the unions bankrupted their own industries. There is a limit that can be paid to unskilled workers, many of whom have been replaced with machines. Skilled workers are doing quite well in this country and are paid according to supply and demand. When the liberal Democrat Clinton (a union favorite as all democrats are) allowed “NAFTA” to go through, he basically said let the free markets dictate supply/demand/wages for products. Unfortunately your overpaid union brothers (non-skilled factory workers) lost their jobs in favor of south americans who work for less. Its a plus for their economy, but not good for the USA since these workers have been overpaid for years and now cannot find unskilled jobs here at the same wages. Feeling empowered by the pro-union Obama administration, the ‘food service’ workers have tried tactics such as striking with demands for higher wages. All they will do is lose their jobs, because most customers are not willing to pay more to a no-brainer bagging food.
As far as public sector employees, they are not going to get pay/benefit cuts. We are stuck with that tab. However it does affect how many employees are in a department. Whether its street, police, road, fire, the staffing levels are down in every town because the money just isnt there to support the automatic pay increases for all, so when people retire they are not replaced with new hires.
Your train is leaving #9. Why don’t you get on it.
Some individuals, such as #9 don’t understand simple economics. Apparently math isn’t on the civil service test. I’ll help you through a simple equation. Greedy uneducated unskilled union employee with bad attitude + unwarranted salary increases=layoffs. Make do with fewer employees. Make do with older equipment.
Taxpayers will not allow budget increases for those feeding at the public trough.
Steps taken by legislation will help ease the tax burden, but the reality of continued zero tax growth needs to be revisited, if you want good service you have to pay for it. If you don’t want to pay the cost for services go somewhere that is not a service oriented municipality, Many towns in Sussex county offer only an elementary school and road dept. and use the state police, and volunteer fire and ambulance, good taxes but you do a lot your self that you would call the town for in a service oriented municipality.
#11 to want better pay and benefits for your family is not greed, there is nothing unskilled about cops, firemen, and teachers, welding, pipefitting, carpentry, electrical, plumbing are all skilled workers they are who make up your public work force. Very few uneducated people could pass a civil service test never mind a police promotional exam, try a license test for welding, electrical or plumbing certification . Yet you can trade stocks by passing a test with a hs diploma?
wow you amazingly ignorant as to finance …
#13 I don’t trade stocks but I’m aware that brokers must have a license of some sort to ‘sell’ securities. You CAN become a cop, fireman or any of the other jobs you referenced (other than teacher) with a HS diploma. A few months in the ‘academy’ isn’t equal to a 4 year college education. Most of the cops I know were pumping gas or working as other unskilled laborers prior to passing a test. Those who pass the ‘promotional exams’ generally attend ‘cheaters schools’ taught by those who administer the test who charge attendees a few thousand dollars. Electricians and plumbers are licensed after years of being ‘journeyman/apprentices’.
In most police dept’s you must have a a 2yr or 4 yr degree just to apply, 4 yrs in the military is also acceptable. If you can pass the sec test you can trade stocks no degree required. Cheaters schools are a thing of the past, any one can go to school, if you work for civil service in any form you may not teach promo classes at all.