The debate over what to do about the fiscal crisis with the public employee pension and health costs is front and center in the state budget hearings and negotiations. Gov. Phil Murphy and others are pushing the notion of “fairness” in seeking more revenues from higher earners ahead of reducing expenses, including pension and health costs.
Public employee retirees have been the beneficiaries of very favorable pension rules and eligibility requirements for many years. Retirees get health benefits for life and are eligible for full pension benefits after a relatively short number of years.
So let’s discuss “fairness” and compare the public employee benefits with the benefits of the non-public employee working taxpayers of New Jersey who pay for those public employee retirement benefits.
Read the full article from the Asbury Park Press