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:
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.