Christie’s Pension Onslaught Upheld by New Jersey Court

22 Jun

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Christie’s Pension Onslaught Upheld by New Jersey Court

John Leslie

Determined to ride on the backs of public employees in his bid for the Presidency, Chris Christie has broken promises to public servants, demonized them and imperiled the financial future of teachers, firefighters, police and state workers. It is estimated that the fund will go broke in 10 to 12 years.

The New Jersey Public Employment Retirement System (PERS), which covers almost 800,000 current and retired employees, is now funded somewhere between 44 and 50 % of the level necessary for a secure retirement for public servants. Governors and the State Legislature have chronically underfunded the pension system for years, using the “savings” to create the appearance of balanced budgets and then blaming public employees for the crisis of the system. Christie, in his bid for the Governorship, promised to stabilize the system and fulfill the State’s obligation to its…

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