Making Pension Reform a Reality in New Jersey
Fiscal Reform, Policy — By Editorial Staff on January 28, 2014 at 12:01 PMThe wake of the recent federal court decision declaring, in the Detroit Bankruptcy Case, that public sector pension commitments are not sacrosanct, should be cause for increased concern about the realities of similar commitments across the nation.
While New Jersey is not unique nor, fortunately, the worst state when it comes to its funding status, after years of neglect along with reckless maneuvers, we are at a crucial stage regarding the sustainability of current commitments.
ETHICS, or more specifically the lack of, has played a key role in getting us to the current situation.
With the enduring fallout from the nation’s worst recession on record the Common Sense Institute of New Jersey opted to take a hard look at where the state is in meeting its funding obligations and what options there are going forward.
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