Thursday, June 3, 2010

"State Pension Funds Will Not Last the Decade"

New research indicates that "state pension funds are headed for a crisis of national proportion".  NJ Voices blogger John Bury writes about NJ's underfunded pensions extensively.   I believe Bury calls for NJ pension funds going broke even sooner.

For whatever it's worth, the article on the reseach done by Northwestern University’s Kellogg School of Management can be read here.

1 comment:

Dougman said...

I bet if you ask any number of public employee if they would be willing to personally sacrifice so that the pension system can be corrected somewhat and they'll say no.

Then ask them what they will do when there is no money to even print/cut their checks anymore....they can not personally conceive of that.

People want to blame it all on Christie for being brash and hard-nosed, and for messing with funding to the municipalities, etc., but the man is a realist and that is exactly what this self-entitled State needs right now. For too long we have put our heads into the sand and refused to see the writing on the wall.