October 9, 2014
RE: Concerns with Potential Recommendations of Pension and Benefit Study
Based on our review of the Governor’s Pension and Benefit Study Commission’s September 25 status report, “Truth and Consequences,” it appears that no consideration has yet been given to the strength of local PERS and PFRS, compared to the State’s system status. That could lead the Commission to propose “solutions” for the State that could result in new problems – and higher costs – for local property taxpayers. For more details see our September 29 letter at http://www.njslom.org/letters/2014-0929-Pension-Study-Group.html.
A number of State news sources have picked up on this concern. We have posted, on our website, one op-ed that appeared in the Times of Trenton. You can access that at http://www.njslom.org/pension-health/Pension-100714-TimesofTrenton.html.
We have also posted, for your consideration, a DRAFT RESOLUTION, which you might want to adapt for action by your governing body. That document is available at these links:
PDF - http://www.njslom.org/resolutions/Draft-Resolution-Preserve-Pension-Funding.pdf
Word - http://www.njslom.org/resolutions/Draft-Resolution-Preserve-Pension-Funding.docx
If you have any questions on this, contact Jon Moran at 609-695-3481, ext. 121 or email@example.com
Very truly yours,
William G. Dressel, Jr.