June 9, 2015
Statement on Supreme Court State Pension Underfunding Decision
League President, the Honorable Brian C. Wahler, Mayor of Piscataway, issued the follow statement following the release of the New Jersey Supreme Court decision in Burgos v. The State of New Jersey.
“Today’s Supreme Court decision underscores the need for a State solution to the underfunded State pension and health benefits systems. This decision will have no impact on local budgets, as municipal employers and their employees will continue to meet their pension funding obligations, as required by statute. Because of that, the pensions of local employees are safe, and the local PERS and PFRS funds are fiscally sound.
“Going forward, efforts to address the underfunding of the State’s obligations need to recognize and respect the integrity of all locally funded retirement and benefit plans. Remedial efforts must not include the mingling of the State and local PERS and local PFRS, or the transfer of the state’s obligations to local government.
“Local government officials and employees continue to work together to protect the retirement funds for which they are responsible.”
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For further information contact:
Brian Wahler, Mayor of Piscataway at (732) 562-2301
William G. Dressel, Jr., Executive Director at (609)695-3481, extension 122 or 609-915-9072.
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