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Re: Nearly 2,000 retired N.J. public workers collecting $100,000-plus pensions
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Home away from home
 
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Even after the latest round of reforms, the NJ state pensions by some measures, are as much as $170 billion under-funded. Pre latest reform, Police/fire & teacher pensions were going to run out of money around 2019 (assuming an 8% return on the invested pension funds).
Posted on: 2015/2/18 13:35
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Re: Nearly 2,000 retired N.J. public workers collecting $100,000-plus pensions
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Home away from home
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2006/11/13 18:42 Last Login : 2022/2/28 7:31 From 280 Grove Street
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Who said crime doesn't pay - How many of these workers got jobs via the felony employment program ?
Posted on: 2015/2/18 6:14
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My humor is for the silent blue collar majority - If my posts offend, slander or you deem inappropriate and seek deletion, contact the webmaster for jurisdiction.
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Re: Nearly 2,000 retired N.J. public workers collecting $100,000-plus pensions
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Home away from home
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It's a very neat trick - one generation consumes city services but instead of paying for them in full, it tells the city workers that they will get part of the compensation now, and then the next generation will pay them the other half later.
The problem with this schema is that at some point some generation will refuse to honor the promises of the previous one. And why wouldn't they? Why would they feel obliged to pay for the services that they neither ordered nor received?
Posted on: 2015/2/18 5:43
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Nearly 2,000 retired N.J. public workers collecting $100,000-plus pensions
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Home away from home
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For anyone wondering where much of their taxes go to.
The number of public officials receiving $100,000-plus pensions has more than doubled since 2010, according to a New Jersey Watchdog analysis. http://www.nj.com/politics/index.ssf/ ... .html#incart_pop_thishour
Posted on: 2015/2/17 22:26
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