Public Pension Liability, New Jersey Taxpayers On The Hook

New Jersey Pension WPG John Demasi
AC Mayor Marty Small & NJ Gov Phil Murphy

Sparks were flying on local talk radio this past weekend as callers hammered NJ state’s $7 billion in unfunded pension liability.

  • Unfunded pensions. NJ taxpayers on hook for retirement costs of public employees.
  • Pension padding. Get a promotion or salary increase just prior to retirement.
  • Longevity pay. Annual bonus for just staying on the job.
  • Boat checks. Large payouts for unused sick and vacation time upon retirement.

Listen to John Demasi, WPG radio:

Anger Over NJ Pensions

Inflation, government spending, public unions, rising crime and unfunded pensions. It’s no wonder that some are exiting New Jersey for states like Florida and Texas.

21 thoughts on “Public Pension Liability, New Jersey Taxpayers On The Hook”

  1. Expensive state & city benefits are OUT OF CONTROL. I have homes in FLORIDA and LONGPORT. NJ is expensive. Taxes are 32% higher in NJ, and services are lower.

    1. WHY NOT CHECK OUT HOW MUCH THE STATE HAS TAKEN FROM OUR PENSION FUND BEFORE YOU FLAP YOUR TRAP??…..BILLIONS STOLEN, BUT THAT IS OK???…WE HAVE OFFICERS THAT WERE INJURRED IN THE LINE OF DUTY WHO CAN’T WORK ANYMORE AND WERE PROMISED THROUGH CONTRACT TO COST OF LIVING INCREASES….THAT FAT BASTARD TOOK OUR NON FORFEITABLE RIGHTS AWAY WITH A STROKE OF A PEN…..WHILE WE PUT OUR LIVES ON THE LINE EVERY FUKING DAY OR NIGHT THROUGH OUR CAREER….THIS IS WHAT WE WERE PROMISED WHEN WE SWORE OUR OATH TO PROTECT AND SERVE

      1. Absolutely doing jobs no one else would dare do a d maybe ask gov Whitman what she did with a chunk she took. This was part of a contract and officials need to be accountable to where he used the money not for their taking. You politicans. make me. 🤮🤮🤮🤮

        1. She used it to fund inner city schools after the state lost the Abbott case and a judge order the state to fund inner city schools at the same cost per pupil as the highest spending school district in that county.

    2. Think about what you just said then criticize people who can barely afford one house. Your sense of entitlement is beyond the pale of reason

  2. Those who receive those pensions and other Jersey benefits….What percentage have moved out of state themselves and why? That would be a interesting interview to round out the topic.

    1. I can tell you, a whole lot including myself. Why stay in a state where your pension is not something that can pay the rent because of the high taxes. A state that gives freebies to people to lazy to work. A state that put illegals over American citizens.

      Yes the taxpayers are on the hook because of the politicians you elected. That’s how it works. The same politicians that stole 1.5 billion from the state pensions and now want the public employees to look bad. From Christie Todd Whitman all the way to Christie stole the money.

      1. Absolutely, they where the thieves and they stole from are pensions. what I was in titled too I’m not receiving. Pay up Bitches!!!

      2. All those politicians are rotten to the core and should all be in jail and personally should be liable to return the money they stole

  3. Let’s get the state to pay back all the money its governors stole from the pension and didn’t pay into it to balance their budgets before we complain about anything.

    I am sure every single taxpayer who paid into any type of retirement investment and had the investment company take their money to pay for their electric bills instead would be screaming and shouting about their stolen money.

    The state and taxpayers of NJ stole money from the pensions and then even stopped allowing the retired to have any type of cost of living increase.

    It’s time to pay back the money you stole and give a cost of living increase to workers who put their lives on the line each and every day and haven’t had a cost of living increase in over 10 years while inflation has gone through the roof.

  4. Pensions are funded by employees paying a percentage, and the employer pays a matching percentage.

    Governors Christy Whitman and Chris Christy changed that and permitted employers’ to use those funds elsewhere.

    1. Actually, Florio made it possible and then Whitman actually did it. Regardless we got screwed….imagine that happening with 401k plans….oh yeh, Madoff….

  5. The State of New Jersey used the pension money for everything except pensions. They should go to prison for theft. Now they want to blame the working and retired workers who earned their pension. How about replacing the money they stole instead of spending it on illegal aliens and felons.

    1. I’m no MAGA hat wearing conspiracy therapist but when Murphy was way down in the count, they stopped counting votes until the next day and he miraculously came up with the votes needed to win when most down votes went to the republican’s. Sound’s a lot like another recent election.

      There is no way any politician should be allowed to touch a pension plan under any circumstance, especially when they only have to serve two terms to have a government pension for life.

      Due your due diligence before you pull your next lever or cast your ballot in a Dominion voting machine, our country can be butt deep in debt and we pay 2 bucks for gas or our country can be butt deep in debt and we pay 6 bucks for gas.

      Now more than ever we need to vote for the least crooked politician to represent us.

  6. When the teamsters and mafia took pension money, they went to jail…….. In NJ, it’s business as usual…

  7. Pension funds were first “borrowed” by Gov. Christy Whitman. Borrowed means stolen! There has been no accountability for this theft! As for Gov. Murphy, this buffoon got four more years because bigger buffoons voted this clown back into office!

  8. Murphy’s picture with a child molester protector. Now he is on the same page with the ventnor mayor. Keep your kids close! The govt surely wont protect your kids in AC

  9. Who researched those comments? A promotion right before retirement…does nothing. It’s a three year average. Large vacation payouts? Keep dreaming. Every contract limits accurred time. Sick time? So use it up….

    Some idiots forget 10 percent goes into the pension.

    Let the state and cities pay back what they stole from the system.

    PFRS is in the best shape. The Teacher’s union is is the worst because they didn’t want increased payments.

  10. No one asked me if I wanted to start a 401K or a ROTH or any other retirement fund. They said sign this . This is your pension papers. I contributed my agreed upon share for 25 years . The government Did not. How would you feel if your employer took funds out of your 401 or ROTH to balance their books? The public only hears what Trenton wants them to hear. Learn the facts first. If leaving NJ is so bad after retirement , then make NJ retirement friendly for everyone!

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