Tramp ass kisser Chris Christy was famous for doing it, and then refusing to replenish the money even after the court ordered him to!!!! Frisky Whitless did the same thing before him.
Show us edtheliar?
You can't, you're a filthy ******* liar.
Typical Nazi pile of shit.
While former New Jersey Gov. Christie Whitman rips into Gov. Chris Christie for his ties with Donald Trump, she evidently has forgotten she is the first governor to get the state into a dangerous trend by raiding the pension fund. Before...
www.lehighvalleylive.com
While former New Jersey
Gov. Christie Whitman rips into Gov. Chris Christie for his ties with Donald Trump, she evidently has forgotten
she is the first governor to get the state into a dangerous trend by raiding the pension fund. Before Whitman, the pension fund was flush with money paid mostly by the state workers, which was legally to be used only for pensioners.
She found a way to circumvent the law and raided the fund for other state expenses.
{
Democrat Governor Jim Florio was the first to use the pension fund as a fall-back piggy bank in a time of crisis, Save Jerseyans.
In 1992, facing a budget shortfall, Florio pushed through the Pension Revaluation Act with unanimous support in the legislature, reducing taxpayer contributions to the public retirement plans
by $1.5 billion.
This scheme was accomplished through the financial deception of introducing a more optimistic method of evaluating pension system investments. The end result was to make the retirement plans’ finances “look far rosier” than they really were, by lifting the projected rate of return on the fund’s investments to 8.75% from 7%.
In 1997, New Jersey sold $2.75 billion of bonds paying 7.6% interest, putting the proceeds into the pension fund to be invested for higher returns. Unfortunately, the fund has earned less than 6% annually since the bonds were issued.
}
By Joe Sinagra | The Save Jersey Blog Democrat Governor Jim Florio was the first to use the pension fund as a fall-back piggy bank in a time of crisis, Save Jerseyans. In 1992, facing a budget shortfall, Florio pushed through the Pension Revaluation Act with unanimous support in the legislat
savejersey.com
So, it was a Nazi, a democrat who changed the rules - you lied, that's what you do. Secondly, no money was taken out of the existing plan, Florio changes how contributions were made and basically defrauded the reporting of contributions.
The REAL problem of course is;
{ And, even as pension contributions were neglected, New Jersey politicians sweetened the pot. In 2001, government employees and teachers benefits were increased by 9%, creating an additional $4.2 billion in liabilities. In 1999, the state approved a “20 and out” measure that allowed firefighters and local police to collect pensions equal to 50% of their pay after 20 years of service . . . a perk formerly reserved only to the state police. Benefits added since 1999 have increased liabilities into the billions. }
So a cop joining the force at 25 can retire at 45 and collect his pay for the rest of his life. That's okay, those in the private sector will work into their 80's to pay for it.
www.wsj.com
