Please go to NJEA.org or eceaonline.org or Essex County Education Association Facebook page and post info about Pensions
Since the law was passed, New Jersey school employees have contributed BILLIONS OF DOLLARS to their pensions, but Governor Christie CONTINUES TO VIOLATE THE VERY LAW THAT HE SIGNED!
NJEA and the other public employee unions recently won a lawsuit, with the judge requiring the state to contribute the FULL AMOUNT of state funding required this year. Governor Christie has ignored the ruling and promised to appeal. The unions have filed a second lawsuit for the coming fiscal year, for which Governor Christie also refused to provide full pension funding. Over three consecutive budgets, he has shorted the pension funds by OVER $4 BILLION. Simply put, he broke his promise — and his own law.
We can’t simply rely on lawsuits . . . they take a long time, there is no guarantee of success, and time is of the essence. IT’S TIME TO HOLD GOVERNOR CHRISTIE AND THE LEGISLATURE ACCOUNTABLE for their obligations under the law. Without the state’s full contribution, the pension funds grow weaker every day. And without a dramatic increase in the state’s current funding commitment, NJEA actuaries predict THE TPAF (TEACHERS’ PENSION AND ANNUITY FUND) WILL RUN OUT OF MONEY IN 2027. (The PERS/Local fund, which is for ESP members, has funding problems as well.)
NJEA has over 200,000 members, who have contributed every penny required by law into their own pension funds. It’s time for each and every one of us to tell the governor and the Legislature that it’s BEYOND time to live up to their legal obligation to fund public employee pensions.
FUNDING THE PENSION SYSTEMS: What you need to know as we fight together to save our pensions – Q & A