New Jersey Retired Public Employees Organization Update....we need your help! August 11, 2014 Dear Members, There is no denying the fact New Jersey retired public employees and those currently employed are being attacked by forces hell bent on destroying a pension system that has served New Jersey residents and public employees since 1922 and for teachers since 1919. Mr. Christie is spending the summer kicking sand in the face of all New Jersey retirees and those still employed by trying to sell yet another pension reform package. This on the heels of his first try at pension reform that was wrong headed from the start and then scuttled by the Governor himself by boldly not funded his own plan! Yes, he has been trying to sell a new plan, but is offering no details. His behavior has become progressively erratic. Why? Maybe its because the light of day just may be exposing the fact that he cannot continue to ignore the law. Yes, recent court decisions in the short run have given him time, but their message also is clear..... he will not be able to continue to ignore the law and states obligations at will. Therefore, the only way to trump the courts message and leaning is to have a new reform law enacted. Yes, we said his behavior has become more erratic. Also, on the horizon are more lawsuits from the pension boards that govern the police and fire, PERS and the teachers to force the governor to make the required payments to their funds. After telling New Jersey residents and public employees for years that there was a crisis in the pension system and that he had all the answers on how to solve the problem (that he wildly had blown out of proportion), he suddenly announced in the past month that the pension issue is more complicated then he originally thought and he needs help!!! Yes, his behavior is becoming more erratic. So now he has issued an executive order creating a pension review commission and has named nine members to help him solve his pension problem. However, despite touting in the state and all around the nation that he can work with the other side of the isle, he unilaterally named a hand-picked panel for the commission rather than reaching out to the state legislature and the very stakeholders so deeply involved in the pension debate for representation. The process was further flawed by giving this panel an unrealistic timeline to make recommendations and to only have them sift through data and information that his own Treasurer has developed exclusively rather than to allow for a broad spectrum of input from all stakeholders. Yes, his behavior has become more erratic and his actions defy good governance. Despite the above NJRPEO continues to believe the New Jersey Pension System which is actually comprised of seven different pension groups should be administered and guided with steadfast stewardship not by the politician de jour. In the past weeks the NJRPEO Executive Committee as a start has developed draft legislation that calls for injecting objectivity in determining the unfunded liability/or surplus. You are aware from our past messages, that despite the contrary Mr. Christie continues to site figures that were calculated with inflated salary projections over the next 30 years and other crude assumptions that have bloated the unfunded liability for all seven pension groups. We have recently shared that draft legislation and the reasoning behind our request with the legislative leadership from both sides of the isle in the senate and the assembly. Ultimately, we believe the real hope for saving our pensions will rest in the state legislature. We can only keep the pressure on those 120 representitves with your help. Now is the time for you to stand up to the Governor and his handlers and financial backers. You can do this by urging others to join NJRPEO. Help us continue to build an organization that can stop the attacks on public employees and save your pension. If you belong to an organization of public retirees tell them what we are doing and urge them to join us. If you have public employee friends or collegues tell them about NJRPEO. Please email them or call them now....we need to reach thousands more that feel powerless. Urge them to join us and stand up to save their pension and yours. To join is free! To join is easy! All are welcomed, those living in or out of NJ. Have them email us at: njrpeo@njretiredpublicemployees and leave the message add me to the list. Within the next several days, we will share with you the full details of that draft bill, entitled, Independent Pension Systems Actuarial Assumptions Act.
Posted on: Mon, 11 Aug 2014 22:56:25 +0000
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