In case you missed it, Save Jersey returned to “Common Sense Radio” last week.
Our Hoboken-based contributor Josh Einstein served as host Sue Ann Penna’s special guest in June.
This time, Blogger-in-Chief Matt Rooney played co-host on WSNR 620AM; the special guest was Candy Straight, a member of Rutgers University Board of Governors. The trio discussed the Rutgers-Rowan merger, tax credit legislation for New Jersey solar companies and Garden State politics in general.
Here’s Part #1. Watch, enjoy and share!
httpv://www.youtube.com/watch?v=Z9Gqvio1Rjg
The NJ police and fire pension system was overfunded leading up to the housing bust and stock market crashing. Public employees contributed their share of approximately 9% of their salaries consistently from the beginning of their career to the completion of service. The State of NJ gave municipalities a waiver for their payments to the pension system for over a decade and the State itself decided to skip payments as well. On top of that previous Governors borrowed money from the pension fund to allocate the funds elsewhere for spending pledging to repay the loan back. This never happened. So the misleading information to the public would make anyone think that public employees were to blame for any underfunding. This is not the case and this information was intentionally left out and bullseye was placed on public employees. Now the state of NJ has pegged retirees to huge increases in their health benefits such as a $1000 a month with no more biannual cost of living increases that stopped two years ago. When employees made their decision to be a public servant it was because of pride in serving the public and because there was a legal contract for pension benefits. Many firefighters and police officers work throughout the nights (which reduce life expectancy and the average life expectancy after retirement is 5 years) and face dangerous situations such as shootings, assaults, chance of coming in contact with infectious disease contaminated hyperdermic needles, fires and other life threatening situations that a price can't be made. Pension reform has been too extreme when 100% of all public employees paid their payment obligation and the average life expectancy is 5 years after retirement. The threats about the failure of the pension system was brought upon from political mismanagement and disregard for legal payments by municipalities that hire officers upon agreement of the benefits and the State's failure to repay back borrowed money and missed payments to the pension fund.
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