Sign Up for Mailing List   Contact Us   Advertise    Request Reprints of Articles

NJLawman.com
N E W S,  O P I N I O N,  C O M M E N T A R Y
                                          
 

       L A W   E N F O R C E M E N T   M A G A Z I N E


2014 NJ Police Training & Schools

Police and Fire Mortgage Rate...  3.68 %! 

Call Sharon Press or Andi Pasquin at
(866) 612-1864 for this and other
mortgage products or click here for flyer.

Current
Police & Fire
Mortgage Rate

Visit Us on Facebook

Follow Us on Twitter

Visit
Our
2014
NJ
Police Training
&
Schools Section

 

Features

Home

NJ Law Enforcement

Site Search

Editorials

Roll Call

Opinions

Photo of the Week

Links

Site Map

 

News

Police News

News Archives Nation

News Archives NJ

L/O Duty Deaths

Events

 

Marketplace

LE Equipment

LEO Gifts

 

Click here to receive NJ Law Enforcement Bulletins

 

Training

NJ Police Training

National Training

 

Resources

Invest Resources

NJ Media Center

10 Deadly Sins

NJ Newspapers

Comp Time Law

NJ Most Wanted

Police Videos

Entry Level

Links

Police Poems

National Police Week

 

IA

IA Resource Center

Garrity Warning

 

Forums

Forums

 

NJLawman.com

About Us & Info

Advertise

Contact Us

Contact Us

 

Satellite Phones  An Asset
for Disasters

 


Police and Law Enforcement Home  >  Op-Ed Pieces  >  The Truth Behind New Jersey Police Pensions

NJLawman.com

Op-Ed Pieces

Police and
Law Enforcement News


The Truth Behind New Jersey Police Pensions

OP-ED COLUMN
By
Mike Pocquat


 

 

 

 

 

 

 

NJLawman.com
Police and Law Enforcement News
T
uesday, February 14
, 2012 11:50 a.m.

 

As a police officer in the State of NJ, I find myself unable to sit by while the current climate of public employee bashing continues under the misinformation fed to the public by the media and our current Governor. While I can not comment on the teacher’s retirement system, I can speak about the Police and Fire Retirement Fund (PFRS), and more specifically, how it has been mishandled by some of our elected officials. The truth should come out, and the public has a right to know how we got to where we are today.  

Long before I became a police officer, the State of NJ enacted a LAW which required police officers and firemen to contribute a certain percentage of their salary into the states “secure” pension fund. Throughout my 22 year career, I have paid 8.5% of my salary, as mandated by law, into this fund every pay period. I was not given the option to place my 8.5% in an IRA or other investment fund. Every pay check since I was 25 years old had the 8.5% taken out of my pay and placed into the PFRS with the promise that the money would be there when I retired. By LAW, towns and municipalities were required to match that 8.5%.

By the time Christine Whitman took office, there was over 100 billion dollars in the fund. This meant that at the current rate of retirements, pension costs for police officers and firemen were funded at 104%, well into the future.  This was a prudent and financially responsible plan that worked, and it provided security for the families of these men and woman who risked their lives everyday serving and protecting the citizens of NJ. In no way was it heavily over funded or excessive. It covered the costs of promised retirements with a small cushion left over.

It was at this time that Christine Whitman stepped in. Governor Whitman recognized the billions of dollars in our “secure” and “separate” pension fund, and she proceeded to raid that fund. Unknown and unannounced to the public, monies were indiscriminately withdrawn from the PFRS and used to pay for Whitman’s tax cuts and to balance the state budget. Billions of dollars were taken, and to make matters worse, the Whitman administration passed a law allowing towns and municipalities to no longer contribute to the fund. Over 3 billion dollars in contributions were skipped over the next 8 years, while the individual police officers and firefighters continued to have  their 8.5% contribution taken from them and placed into the PFRS.

The state gambled for years, relying heavily on the returns from the stock market to cover the missing funds. Politicians misspoke on the campaign trail, touting the virtues of how their financial genius was able to balance their state and local budgets, and the public was lulled into a sense of false financial security. But the small print in Whitman’s bill was ignored. The funds they failed to contribute would have to be made up at a later date. The pension reprieve was temporary, and their contributions would have to be paid back, just like any other loan. It was quietly suggested by the Whitman administration that towns set these contributions aside for when the state called to make good on them. It appears most towns and municipalities failed to heed this advice. Governors DiFrancesco, McGreevy, and Codey continued this trend, and all failed to call the towns and municipalities on their “loan”, while the PFRS fund continued to dwindle down close to 66 billion dollars. They remained silent. To bring this to light at this point would certainly mean political suicide, knowing that towns and municipalities would have to raise taxes to make up for their error in financial judgment and planning.

It wasn’t until Governor Corzine took office that this trend was stopped, but unfortunately, the damage was done. Governor Corzine made the call the Governors before him were afraid to make. He advised the towns and municipalities that it was time to pay back the monies the towns had been given a temporary reprieve on. And the media jumped on this, printing bold headlines “TOWNS GOING BROKE OVER POLICE AND FIRE PENSIONS”. This attention grabbing and misleading headline made it appear that your police and firemen were bilking the tax payers dry, when the truth is totally the opposite. The politicians bilked your police officers and firemen dry, and in the long run, the tax payers of NJ.

Towns and municipalities knew they were going to have to pay this money back, and for them to insinuate otherwise is simply not true. Realizing the gravity of the situation, a new bill was introduced and passed into law. This allowed the towns to pay back the loan given to them by their public employees in increments; starting at 20%, 40%, 60%, 80%, and finally 100% each proceeding year. Towns and municipalities continue to act as if they have been caught unaware and shocked by this entire process. The public is being told that payments for police and fire pensions are doubling, tripling, and quadrupling, and that the public employee system is out of control. What the public needs to know is that they are the victims of a mounting debt that was created by the Whitman administration and compounded by those following her tenure. To blame your public employees for the abuses of the pension system is ludicrous at best, especially when our elected officials are the ones responsible for raiding the fund, and then enacting the legislation on how and when to pay it back.

Governor Florio recognized the financial hardship facing the state of NJ, and proceeded to raise the state sales tax to 7%. This helped spell political suicide for him, and Governor Whitman was not going to make the same mistake. She repealed the 7%, dropping it back down to the 6%, knowing full well this money would have to come from some where. Her solution was to raid the Police and Fire Pension System, allowing her to balance the state budget and give the false appearance that all was fiscally sound under her watch.

Our current Governor, facing the same financial crisis of those going before him, has chosen a similar route, but one with a more vilifying tone. He has again found the same victim: Your public employees. When asked about the pension situation in the State of NJ, Governor Christie replied “I wasn’t going to put 3 billion dollars into a failing pension system. We need pension reform. I passed some already for new hirees, and this fall we are going after the current employees and pension reform and benefits because we are broke.” No where does he mention how the public employees had already bailed out this state years before, and now he is focused on “GOING AFTER” the current employees to fix a mess created and compounded by politicians. To say otherwise for him would be political suicide should he aspire to higher political office, and as most of those before him, he is not about to risk his future; Rather, he would gamble on the future of those men and woman and their families who have served this state with honor and integrity.

The principals of the pension system are not broken Mr. Governor. What is broken is the manner in which the politicians have treated and abused it. Yes, the system is failing now, but not because of your police officers and firemen. As of 2009, the pension fund should have assets of 112 billion dollars to meet its obligations, yet it is currently sitting at 66 billion. It is the largest unfunded liability in the country. NJ is the first state ever to be charged with fraud by the Securities and Exchange Commission, and Governor Christie, strangely, has no comment on this. Yet he continues his rhetoric on the evils done to us by our police officers and firemen, ignoring the truth and lambasting and vilifying us at every turn. As the saying goes, “Politics has no shame when it comes to preserving your place in office. Why let the truth get in between a good, attention grabbing headline?”

The system is on the brink of collapse, and continued arrogance and mudslinging will not fix it. The truth is what it is Mr. Governor, and there is no getting around that. Politicians put us in this mess for their own political gain, not our public employees, as you would like the public to believe. You know this and need to stop ignoring the facts. How we deal with it from here is the measure of each of our character and integrity. I know the public is smart enough to recognize this, and I hope that you are too. Long after you are gone, we will still be here, protecting and serving as we always have. In the end, all we have left is our name. Let’s hope yours is remembered for you’re integrity and not for what you have slung so far in your race for political aspiration. I challenge you to do the right thing, as so many police officers and firemen strive to do every day for their families and the citizens of NJ.  [Share your thoughts below]

Michael F. Pocquat                                                                               Mount Olive, NJ    

Click here for the New Jersey Lawman Home Page

 

 

How to Submit an Op-Ed Piece

 

I agree with you that everyone should have a pension if their employer provides one. In regard to police, what I don't agree with is the fact that up until recently haven't you been able to bank your sick time and vacation time?  Isn't that true?  

I get 5 weeks vacation and I have to use them or loose them. I cant bank time in 2013, retire in say 2020 and have them write me a check for all my banked time at my current rate. Be honest with yourself, does that seem right?

As far as risk your life every day, I agree your job is dangerous and so is mine, perhaps more so.

But it is what it is.  Maybe you should have chosen another field. I know you hate me now and that's fine, doesn't matter to me. I'm not writing this to infuriate you, but just to see what's fair and not fair. do you think its fair for police to walk into a 7-11 and get free coffee?   free coffee!!!  maybe if your pension was higher you could afford it, I don't know. do you think its fair I cant talk on my cell phone, but cops are constantly on theirs. hmm  i know your first line of communication is the radio, oh wait again your entitled, kind of like the coffee. for what its worth and I know to you its worth nothing ,maybe less, be happy with what you have, you will get no sympathy from people hearing you can retire in 20 years, collect a pension, and go work somewhere else. fortunately for me I am in a better spot, but for the folks that are not, shame on you


I am not a cop or a fireman but i have many friends who are both...active and retired....The story is always the same....pension plans were used to bail out the state and then blamed when it came time to put the money back.....it is government at its very best...Take, Manipulate and Blame......


Daniel Repetti-Retired Captain-North Hudson Regional Fire & Rescue-Once again.

Our politicians have let us down, once again. They caused the problem and then play the victim. They should be held accountable instead of blaming the public servants for their misdeeds. Legal action should be taken at the national level and restitution made to those that have given in some cases their lives to the community they served.

If I were to believe the things I read about in the papers, I wouldn't like the "BLOOD SUCKERS" either. The New Jersey public deserves to know the truth and their public safety officers deserve their just deserts according to their legally negotiated contracts. We are not and should not be considered the villains in this scenario.


I don't know all the political jumble (ins and outs), but I think that we as members and contributors of the police and fireman's fund should be able to sue These governors, starting first with Ms. Christine Whitman. I don't understand how without asking dip in and in so many words steal from us while she sits comfortably rich and without a financial worry in the world. I think the state's government has too much power and should be bridled and questioned before making some of the decisions they make. I don't even understand putting some of these rich selfish people into office just to play monopoly with the lower financial class of people monies. We should not be duped by the people with the crisscrossed language and speech, the phoney smiles, and polished makeup. There should be someone who has moral values and the wisdom/skill to put forth sensible plans, and who may genuinely care for people. Maybe, it's far fetched but these are my thoughts.


Ii was trying to tell you people this way back when it was happening, (our leadership said, "not my problem").

I was retired in 1983 for injuries.  I'm still at $23,000 and change. You try living on that. In the past I could supplement this, but I'm 70 now.  A little hard.

I called this governor's and said, hey ok I if you want to save money, why don't you start with defunding all the illegals.

His answer was that's not my job.  Gee, could he have some working for him, maybe?

-John Dorne


Very good article well written and informative. It also raises the question why didn't union leaders advise membership what the politicos were doing with the money


Placing 8.5% of your salary in an account for 30 years that earned 6% a year would get you about $363,000.  A tidy sum, no doubt.  Assuming the individual retired at age 55 with 65% of his ending pay (assumed to be $128,000 in this example) and also received medical benefits for life ( say that is worth $15,000 per year)  The annual cost to the State is about $98,0000 ($83K pension + $15K benefits).  In order to draw down $98,000 per year you would need about $2.1 million dollars at the beginning of retirement.  Contrast that to the $368K you contributed and you will begin to see why public pensions are such a hot topic and why they were eliminated in the private sector.  I'm not expecting anyone here to like what I am writing just to try and understand the other side.  The current system is not sustainable


This article is "right on the money!"


She also forced the resignation of the Superintendent of the State Police after he admitted using profiling as a tool to combat crime. This was shameful!


Two other points should be made. 

I believe us LEOs benefited by having the 20-and-out (with no benefits) by lending the money to Whitman, and I also believe that judges and/or prosecutors/APs were also included in OUR pension.  Correct me if I'm wrong.

While we benefited from the 20-and-out, we DID NOT benefit from having non-LEOs "join" our pension to reap the benefits after paying into it for so short a period of time.  Again, correct me if I'm wrong.


I am not a police officer however I am retired from PERS. No one has mentioned the fact that government pensions are protected by both federal and state laws. There have been cases where towns have declared bankruptcy (I know, states can't) and the bankruptcy judge ruled the towns can declare bankruptcy but they cannot include the pensions. The only thing the towns can do is raise taxes to cover the pensions.


It sounds like New Jersey politicians have been doing to the Police and Firefighters of New Jersey's pensions like the Congress of the United States has done to the Social Security System, stolen from it with no intentions of paying it back.  The Social Security System would be solvent today if only they would have put the money back that they used for their own agenda's.  Like always, the working people and not the politicians are paying the price to keep this great country going, but for how long?


I have told this story to my fellow officers for years and they didn't believe me.  How the politicians lied over the years and Blame our union for bulking the state for increases contracts in which we never got one. Peanuts is what we got in return for our service to the state of New Jersey,  I'm leaving this state as soon as I can. Bunch of crooks.

-NJDOC


I am not a fellow Police officer.  I served In the U.S.A.F. during which I did my tour in Viet Nam in 1969.   I am with all of you and may I take the privilege of calling myself your Brother.

NJLawman.com Response:  Speaking for everyone on here, the privilege is all ours.


I've been retired since 2008. I've had to explain to my family members how Whitman raped our pension system, and never paid it back. It's hard to seem like your in the right, because no one wants to believe Politicians would be so criminal with the POLICE & FIRE pension system. Governor Christie wants to bad mouth our Pension System and say we get far to much. Had people like him not stolen from it, it would be solvent. When a person who apparently eats to much, talks about others being greedy, he should look in the mirror. You took away my cost of living allowance, and now your buddy Obama has his hand in my other pocket. All you Politicians are thieves.    


If justice were ever to be served especially in the area of the financial skullduggery of the political class there would not be enough orange jumpsuits to distribute or prison cells to fill.


Great article Brother. I'm so sick, and tired of the press venerating this clown we have as a governor. So sad that we were duped into thinking years ago, that we would have the security of a pension, and sold out by these real Trenton criminals.


you should post this where more people can see. posting it here will only inform those in law enforcement, who already know.


Two other points you missed. A judge ordered that the money was to be paid back twice I believe. Also Florio was the first one that took money from the pension system and the rest of them followed his lead. As far as I'm concerned they should all be put in jail first for contempt of court and then for theft because that is what it really is. Other than that a well written article thank you.


If the governor wants to climb the latter to the white house or repeat in N.J. he should tell the truth. If not I call on every brother and sister who proudly wear the uniform all across the U.S. not to vote for this man. I admire his tough no BS approach to certain things but be honest and be fare. The police and firemen have paid our full share, it's time the others do the same. I also suggest the PBA put up bill boards and TV spots to get the truth out. Make them admit they stole our money and lied to the public about it.


On top of this our NJ governor took it upon himself to take an additional 2 million from our pension system again after his pension system reform bill passed to fund the new Revell casino in Atlantic city to which is going bankrupt. The governor is gambling with my retirement money. I never gave him permission to take in the first place


If we stole money, we would go to jail!


The state's mismanagement of our pension funds is no secret. Former governors Florio and Whitman began raiding these funds to cover budget shortfalls that resulted from irresponsible spending. Today, these same politicians would have the public believe that the defined pension benefit plan is no longer sustainable as the result of their incompetence. The fact of the matter is that the current level of political corruption in this state is no longer sustainable. Other states have managed the same type of pensions without incurring the debt New Jersey has. It's one thing to mismanage public funds and another to misrepresent the fact to the public. It's time for New Jersey to make things right and fund our pension by replacing the monies they took in the first place.


This was very well written.  As long as social services in this state has the largest number of employees and budget things will only get worse. 


The state's mismanagement of its pension funds is no secret. Former governors Florio and Whitman began raiding these funds to recover their own incompetence as managers.  Today, these same politicians would have the public believe that the defined pension benefit plan is no longer sustainable.  The fact of the matter is that the current level of political corruption in this state is no longer sustainable. Other states have managed the same type of pensions without incurring the debt New Jersey has. It's one thing to mismanage public funds and another to misrepresent the fact to the public.  It's time for New Jersey to make things right and fund our pension by replacing the monies they took in the first place.


What I find to be so funny is that the general public ignore the facts and would rather complain about WE retire at such a young age....our job states at time of hire, (depending when you are hired), that if you work for 20, 25, or 30 years you may retire.

Now if raiding our pension fund isn't enough, they want us to work longer!

To that I say to bad for you. You should have sought the same employment as we did....maybe you are too scared or cant pass the physical or psychological or criminal background portions required for employment! 

Jealousy is an ugly color but standing up for your rights is commendable!


For those of you who think it is fiscally irresponsible or bad for the economy to allow law enforcement officers or correctional officers such as I am to retire after 20/25 yrs. and then possibly collect tax payer funded pensions for longer then we actually worked, let me make a couple of points please.

First we should shadow each other at each of our places of employment and we can see who has more instances where a "customer" or "client" threatens you or a co-worker with bodily harm.

Next we will see who has more instances where these threats are actually carried out. We can also compare stats on who has spent upwards of 4-5 days of fighting/wrestling/subduing for their own safety a "customer/client" who has shown up at our work place on what is known as "wet".

Then there is the favorite amongst the mentally ill "customer/client" who doesn't get their way and decides to cover them selves head to toe in their own feces. we definitely should compare those numbers as well.

Now I know I chose this job, and I love this job and I can't imagine doing anything else, just like you chose your profession. I am sure with your job/profession you have perks you were promised & goals you are striving to achieve. Well the fine men & women I proudly serve with do to. And that tax payer funded pension you are referring to is jointly funded by a mutual agreement made years ago, but only one side has kept that agreement. That would be your hard working members of the P.F.R.S. oh and by the way we are also tax payers!


After all his mud slinging and smoke screens to make us the scapegoats, I cannot possibly conceive of a single Police, Firefighter, Corrections Officer, or current or laid off State employee voting for Chris Christie. He should face the consequences of his actions in the voting booth, where it will hurt him the most. If the Democrats support Mickey Mouse for Governor, he would get my vote over Christie.


As a retiree that has been on the outside for over 15 yrs., I see something that wasn't mentioned in the article. During terms from Whitman to early in Corzine's term those in the PFRS that were active concentrated on pay raises and other perks.  Everyone talked about but did nothing about raids to the pension funds.  We obviously and rightly so blame previous administrations for the problem, but we ourselves are partially to blame for turning a blind eye.  To blame Christie is wrong; he didn't cause the problem but he is vilified for putting the brakes on it and when all is said and done PFRS is still one of the best in the country and where in this country does a retiree get his/her pension at possibly only 38 years of age.


If you can't understand the grief of the PFRS members after that article, you're living in a shelter.  The Government, from municipal to federal, have always "fought for themselves." That's how they "get things done" allegedly.  One votes for the other one's bill, and vice versa.  WE are the voters that keep putting them there.  WHY?? As with all legislation, there are hundreds of pages of conditions and fine print, and only two or three pages that basically say what the bill is intended to do.  But its only intended if the other hundreds of pages of conditions MAY happen.  PFRS members have been shafted as a result of political rhetoric that will probably be stated in hundreds of different ways obey the next 50 years.  It's certainly NOT the police or firemen's fault the money isn't there.  We paid it.  They took it.  Simply stated, the people who we all elected stole the money, and they are forcing the voting public to pay it again.  Yet...we re-elect them...SO who's fault is it?

-CC


Public Pension funds and the laws surrounding these plans are clearly a contract between those states and their public employees. The problem has always been in certain states such as Illinois that the elected officials facing other issues have taken or not funded the plans at the correct rate. While employees continue to have their contribution taken every pay check the plans continue to be mismanaged. Clearly new employees will be managed under different guidelines. I do not believe that a 45 or 50 yr individual should begin to receive a full pension. These payments should be paid at a older age say 55 or 60. Life expectancies are causing everyone to reconsider. The U.S. Military is a prime example where a 37 yr. old Master Sergeant will receive pension payments for 40 or so years and then his spouse. The Civil War pension was paid to a Alabama widow in the mid-1990's. Difficult decisions need to be made without making our heroic public safety individuals scapegoats.


Your post is well written and thought out. Truth is not in them, only lies and broken promises, Whitman needs to be prosecuted for fraud, if that is possible.

Our Governor has purposely misplaced the blame on us the Police and Fireman as you have stated.  I don't know how the public can be made aware of this travesty because the media don't seem to want to tell the truth.  Lies and fraud make a better story and  who better to villainize then the Police.

Something has to be done to correct this wrong, if you have an idea I'm here to help, just let those interested in how we may do this.

Thank you for your honesty.


The average life span for Correctional Officers is 59 while the national average in 75. So being paid for perhaps 60 years while only working 20 is highly unlikely. Requirement for the job of Correctional Officers in NJ is high school diploma. So, for all of the people upset with not getting the same perks. Go get yourself a job in the NJDOC. Just remember that pension comes with missing Christmas with your children, along with their soccer games or school plays. Hope you enjoyed your weekends off because now when your family and most of the people you know are at work and school you will be enjoy the day all alone. Don't forget to give them a big hug and kiss before you leave for work because that may be the day you are killed or and you won't be coming home. The job is thankless, filled with disease, depression and people waiting for you to be off your guard. Most people took the job to take care of their families like everyone else. If you're not happy with your current employment or retirement, NJDOC is accepting applications. It's not a matter of math, it's a matter of choice.


As a retired police officer I too paid into my retirement because of no choice in the matter. I'm not fully aware of all the facts regarding NJ fiscal problems but am confidant the the culprits are politicians not cops and firemen.

Another point. A politician has an option to either run or do nothing when trouble erupts, A cop or fireman has no options, only the duty to run towards the trouble. No matter during the day or night or holiday. Rain or shine or snow butt deep to an elephant. Do not lump us in with other public employees.


Try this math:
Two people start working at 22 years old
Lets say the both make $100,000.00 per year (apples to apples)
The first is a public worker paying 8.5% into their pension for 30 years (total of $255,000.00)
The second is not a public worker - they pay 6.2% into social security for 44 years (retirement age 66)  for a total of $272,800.00
Upon retirement at 52 the public worker gets 80% or $80,000.00 per year
Upon retirement at 66 the private sector worker gets $24,780 per year (using social security calculator)
The public worker gets their money back in less than 4 years.
The private sector worker - who has to work 14 years longer has to wait over 11 years to get their money back.
Tax payers have to subsidize the public worker's early retirement.
I don't mind anyone getting a good salary while they work - but early retirement with large pensions are not fair to the public who pays the taxes.


Wow, I never knew this. As a Widow of an outstanding Policeman I feel this needs to be addressed by the governor and He should do the right thing and make the towns replace the money taken and not by raising taxes. If that fails then this article should be published in every newspaper in N.J. I thought with this Governor we would have an honest open politician. I hope I'm right. At least the people will know where the blame belongs


Doesn't anyone think it arguably fiscally irresponsible to allow people to "retire" after as little as 20-25 years with a large pension and health care? Is it truly fair to pay a person for perhaps 60 years who has only worked 20? If this could be done without taxpayer's money then I'd say nothing, but do a little research into the sheer size & scope of the un or underfunded public pensions & health care across the nation. We simply can't afford what was foolishly promised.

Much of the problem, in my opinion, is mixing unions with government, a concern shared even by FDR.  It seems to me that promises were made to attract union support without figuring out how to pay for it or letting taxpayers have a voice. I'm fine with unions in the private sector, but have great reservations about them in government. Just too one sided for my tastes.

Now, maybe the politicians did shortchange this fund and maybe they didn't. I've seen articles both ways. But, what remains constant is the lack of funds and ability, not to mention willingness of the public to pay even higher taxes so a select group can "retire" 20-25 years before they can ever hope to. This isn't personal. Its math.


Excellent article !!   Right to the point.


As a firefighter I understand the issues this article discus. I am lucky enough to reside in a small suburban town just outside NYC. I am sick of taxes sky rocketing. I don't think it is fair to say our current governor is to blame. He is trying to fix a mess that was created long before he took office. Whitman should be put in jail for her actions with the secure pension.

-F


Someone needs to get this across to all those politician's in Trenton ; prostitution is illegal in this state !


Excellently written.  I truly hope that it does not fall on deaf ears, but I am not hopeful.  Politicians are so corrupt and are leading our state and country into complete collapse. So sad.


Relook Corzine's policies and actions; he did little to fix anything for the unions.  It is not a Republican-based issue, it is a politician issue.


Very well stated.


The pensions are driving up taxes and the whole system needs correcting


That's it very well said... No need to say more...


Absolutely correct and accurate. Michael has, in this one article, "Cliffnoted" the long and agonizing erosion of the Police and Fire Retirement System at the hands of unscrupulous politicians. Hopefully, the public will recognize the true facts in this issue and come to the aid of those who are there everyday to help them.


It's an inaccurate account of events.

The state PBA wanted parity with the NJSP in being able to retire at 20 years. We got it and the price we agreed to was allowing the state to put their hands on our pensions. Mistake number one.

The towns were given holidays from paying. Mistake number two.

The author bemoans the gambling in the stock market. These investments are limited to 5% of the pension fund. The rest of the money is in t-bills which are paying about nothing. Finally, the praise of Corzine is unmerited. His pension advisor buddies got the system to by Lehman Brothers less than six months before they went under. That cost us over $100,000,000, so forgive me for not gushing over Corzine's business acumen.


Our politicians are simply returning favors to their corporate pay masters. The public trust is being raided with impunity and complete disregard, and public employees are being blamed by the corporate owned media that function as the stenographers of  the powerful. We all need to stand with the occupy movement because it is the only resistance left to stand up against our corporate oligarchy.


The politicians in the state of NJ are the perfect example of the definition of insanity: doing the same thing over and over again expecting a different outcome.

They should all be held accountable for their lies and miss management.

The "G"


Awesome ...needs to go public to the Trentonian and even higher to make the public and political powers look like the two faced individuals that they are...thank you from a fellow brother in blue


What ex-governor Whitman did during her tenure for her own political gain was criminal. I remember reading about this and her other shenanigans and wondering why there was no outcry from the media but they loved her. I said it then and I'll say it again, she should have been removed for her actions and possibly banned from all political offices in the future... but no, she was rewarded instead.

As for the current Gov., he's a spin doctor that believes if he says it loud enough and often enough it will be the truth. I wish all our officers the best of luck being heard but I think the air is too thin where our elected official reside.

- BB


We should have cut this off during Governor Whitman's reign.  This is what we get for being complacent.

-RT


It's time that ALL members of the PFRS register to vote and make our voices heard as ONE otherwise it will be the same old same old from our elected officials. This article should go public.


And, to throw dirt on the wounds, the federal government in the 80's also decided that since I was in this type of pension they would also dig in and give my money to the other people that don't pay into the system. The (low life) politicians decided to take half of my social security that I paid into and give it to someone else. The leech self gifted politicos always walk on the backs of the earners to reward the burners.........will it ever end.

 

 

   

Visit Our 2013 NJ Police Training & Schools Section

Mailing List

Receive New Jersey Law Enforcement bulletins
If you would like to receive New Jersey law enforcement
bulletins and/or law enforcement job announcements, click here.

Police and Law Enforcement Home    Advertise    Submit Your Site
Submit Police News   Police Grants    Police Forums    Police News

Copyright ©2002-2014-All Rights Reserved  Law Enforcement Media Group - (Not an Official Police Department)    PERC

 

S O C I A L    M E D I A