NJ’s pension debacle: time to rethink pensions?

A recent article gives a view of some of the steps which have caused a public employees pension fund debacle in New Jersey. This very informative, well researched report, is written by a police officer. It seems to be lacking only one piece of essential information: were pension funds actually looted by New Jersey governors, or were employee pay-ins simply not matched, at the 8.5% rate stipulated by law when the funds were created? No matter the answer, it’s apparent that there are serious problems with the pension fund’s management. read more