This is no surprise. The only question is why would someone risk
staying in this environment if they had their twenty five. From
Sunday's Jersey Journal:
Retirement applications from New Jersey
teachers, police officers, firefighters and state workers jumped 67
percent through the first seven months of the year, according to the
state Division of Pensions and Benefits.
Lisa Fleischer of the Star-Ledger's Statehouse
Bureau reports that nearly 14,900 workers in the public employees
pension systems put in their retirement papers through the end of
July — already 16 percent more than all of last year.
State Treasury officials expect retirements
will continue to rise, possibly totaling 19,000 by the end of this
year.
Much of the catalyst for the retirement surge
has been Gov. Chris Christie's rhetoric about the need to cut
pension costs. Public employee union members expect this cost saving
will require cuts into pay and benefits.
"People are really not liking the way
things are going," said Steve Wollmer, a spokesman for the
New Jersey Education Association. "They look at the
landscape and they see budgets that are underfunded, fewer
colleagues, larger class sizes, no supplies, program cuts.
And they’re saying, ‘You know, I was going to wait a year
but I’m going to leave now. It’s not an environment I’m
excited to be involved in.’
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