New Jersey Pension /Health Benefits Underfunded by $90 Billion

Entitled Truth & Consequence, this “status report” from the New Jersey Pension and Health Benefit Study Commission opens by stating that “The public employee pension and health benefit systems of the State of New Jersey face problems that are dire and likely to worsen unless action is taken. This is a matter of pressing concern to the public employees and retirees who rely on these systems to protect their families’ health and provide for retirement.”(3) Charts and figures highlight the Commission’s findings; possible solutions are hinted at, none of them really palatable.(28) A final report detailing solutions is promised. The document ends thusly: “This problem is dire and will only become much worse if meaningful steps are not taken quickly.”(32)

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