We can no longer wait for pension reform

 

There is no single solution to the pension problem. 

 

Many small steps can make a lasting impact and minimize the pain for everyone involved.

  • Tie pensions to lifetime salary levels NOT last 1-3 years which encourages pension padding.

  • Require full retirement from Local, County and State employment before pensions are paid.  No active employees will receive pensions.

  • Eliminate pensions for professional service contractors, lobbyists and consultants.

  • Increase minimum salary amount for inclusion in pension and health care systems to $20K.

  • Reassess eligibility age for retirement.

  • Tie cost-of-living increases to continued residency in New Jersey so retirees are spending their money in the state.
  • Review pension management fees and seek better options. $640 Million in management fees and profit sharing is unacceptable.

Time for an Independent Governor who will manage our pension reform.