Source:
Workers Independent NewsNJEA Calls For New Jersey To Fix Its Underfunded State Employees Pension System
By Doug Cunningham
The New Jersey Education Association says the state has been using financial gimmicks for years to make it look like the state employees pension fund is properly funded. But as a New York Times investigation revealed, the pension fund is seriously underfunded. NJEA spokesman Steve Baker says a vow by New Jersey's governor to make substantial pension contributions over the next several years is welcome news.
"It's a step in the right direction, but it's a major problem."
Baker says the NJEA wants to see a long-term, serious commitment to meet the state's constitutional obligation to properly fund state employee pensions.
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Read more: http://www.laborradio.org/node/5637
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