Next up? Trenton invents unfunded, private sector retirement plan mandate

By Matt Rooney | The Save Jersey Blog

The next stop after socialized medicine, Save Jerseyans?

NJ State FlagMandatory retirement accounts. Merry Christmas!

This week, the Senate Budget and Appropriations Committee passed S2831, legislation that would force New Jersey employers with at 25 or more employees to offer “Secure Choice” retirement plans if they don’t already offer a plan. 

The plan itself would resemble a 401(k) with automatic 3% employee contributions; roughly 1.7 million New Jersey workers would qualify. The Assembly has already signed off so all that remains is a full Senate vote and then, hopefully, a Christie veto?

Naturally, there’s also a seven-member oversight board written into the bill so Trenton power-brokers have seven more patronage jobs to hand out (!) but, since we haven’t learned our lesson from past anti-business policies and unfunded mandates, Trenton won’t contribute a damn dime to help out the people they’d allegedly loooooove to help retire in style.

The real end result, of course, will be more businesses and individual retiring in North Carolina.

They never learn. They’d have to care first.


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