Jersey Jazzman: The True History of New Jersey Teachers' (and Other Public Workers') Sacrifices on Pensions And Benefits

Jersey Jazzman: The True History of New Jersey Teachers' (and Other Public Workers') Sacrifices on Pensions And Benefits

The True History of New Jersey Teachers' (and Other Public Workers') Sacrifices on Pensions And Benefits

I want to talk about a report that emerged a couple of weeks ago about New Jersey public employees' pensions and health care. But let me set the table first...

Because every time I come across a story like this, it's as if the Ministry of Information has decided, once again, to disappear history. But I'm not about to let that happen -- and if it means I have to keep coming back and repeating the timeline below, I will.

I posted the first version of this back in 2016. And I will keep updating it so that no one can make the claim that teachers and other public employees haven't already made large sacrifices in an effort to bring New Jersey back to fiscal health.

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THE TRUE HISTORY OF NEW JERSEY TEACHERS' (AND OTHER PUBLIC WORKERS') SACRIFICES ON PENSIONS AND BENEFITS

1995: Governor Jim Florio begins the modern era of New Jersey pension underfunding.

1997: Governor Christie Todd Whitman essentially pays for tax cuts by underfunding the pensions.

2001: Governor Donald DiFrancesco raises pension benefits, but he does so by using the same sort of revaluation tactics that Florio and Whitman had used.

2004: Teachers' mandatory contribution to the pension, which had been as low as 3 CONTINUE READING: Jersey Jazzman: The True History of New Jersey Teachers' (and Other Public Workers') Sacrifices on Pensions And Benefits