Seen the NJ pension video yet?

[CALFFBOU]

Sorry if this is a re-post. But I love seeing these videos and keeping up on the subject matter.

-Bou

http://www.youtube.com/watch?v=zJ6bzUrJMBU

[Halligan84]

NJ is in a fight for property tax reduction. The pols in typically misinformed style are going after the little fish trying to make it seem like public employees are living in luxury. The real problems are in all the double and triple dippers that are into the pension system through numerous jobs, generally municipal judges, prosecutors, etc... As far as the video, its great to see the FMBA getting out there and telling the public just how much these guys pay in to their own pension while the State has been balancing the budget in past years by not contributing what they are responsible for.

[dragonfyre]

Great video and the message is clear. But who's seeing it? Has it been on any media other than you-tube?

The Philadelphia media covers South Jersey, there was a firefighter from Blackwood in the video, and I've never seen any TV coverage of this issue.

[Tonyg26]

great vid - never saw it - anyone know where it is running? We are next to Linden and Elziabeth - strange we have not seen this locally

[Bones42]

Never seen it.

[Kobersteen]

I am forwarding this to our membership as a reminder why STRONG political action is absolutely ESSENTIAL to our physical and financial wellbeing.

Thanks Bou!

[Halligan84]

Which video was a Blackwood guy in?

[FireCapt1951retired]

Just curious how the pension system is set up. Do you have a board that has both civilians, firefighters and police officers on the board? I ask this because Detroit had many problems with the city over funding of the pension system. Who's included in the system (politicians, firefighters, police etc).


How much control do the public servants have over their own pension system? Does your state law allow the police and fire to sue for non-payment? Are they required by law to fund the system with no excuses? If not, you must find a way through some type of political action to gain control of your system and get the politicos out of the majority and/or control if that's the case.


The Detroit Police and Fire Pension Board consists of 11 individuals. Five are picked by the mayor and police and fire have three members each, elected by the membership. This gives the police and fire a 5-6 majority over the city. We have had to take the city to court on many occasions to force them to fund the system. The good part is that by state law the city must fund their portion with no excuses, even when the system is funded 100% (presently around 110% funded). The courts have even gone as far as to require daily interest on the monies owed, last time it came to around 7 thousand a day and the city paid up fast. Then the city actually tried to stack the system to their advantage a couple of times and the courts denied the city that right. The nice thing here is that we are not tied to a state system and it's politicians which usually ends up allowing those politicians to gain and keep control of a system that belongs to you.

[E229Lt]

It has always been my understanding that Federal IRS laws prohibit the use of pension funds, skims, loans, or whatever they want to call it, to balance or supplement a general fund.

[Halligan84]

I believe they deferred making the State's payments into the fund Lou. It's been done enough that if that were illegal our past few governors would be in jail

[FireCapt1951retired]

Halligan84,

How much control over the pension system do the members have or do the politicos control it? The video is a good start followed up by all legal means necessary. Sounds like whoever is in control has taken a few lessons from the Enron crowd. I really hope you can force the state to live up to it's obligations.

[Halligan84]

LT... I'm not a member, but have been paying close attention as a taxpayer. I know there have been several protests, but I guess in the end as long as they fund the retirement there is nothing that can be done about it. I think they are getting around to trying to reduce the benefits now and that is a real problem. In NJ the state and the employee each pay about 9% into PFRS.

http://www.state.nj.us/treasury/pensions/pfrs1.htm

There is a board made up of Police, Fire , Retiree and Governor appointees.

[E229Lt]

I believe they deferred making the State's payments into the fund Lou. It's been done enough that if that were illegal our past few governors would be in jail

Go back and watch the video again. On the second text screen it reads:
Then they used the firefighter's and Police pension fund to balance the budget.

And at 02:50 of the video the narrator states:

Until the State of New Jersey "BORROWED" from it to balance the state budget.

[Just a new name]

I am a member of the FMBA. Yes, they (the State) took the money. Gov. Whitman took the money from the police and fire pension system to balance the budget for the state of NJ. At the time The pension fund was very healthy. They more or less shot it full of holes. Giving the cities a "holiday" from paying into the pension was just about the stupidest thing they did. With that there was a popular misconception that the employees did not pay either. This is false. For 10 years 8 1/2% of my pay has gone into the pension. Newspapers ALLWAYS for get to mention that.
Pension reform has been the buzz words of NJ the past few months. Almost ever state and public employee has been under attack. Typical, they love to just point fingers.

[Just a new name]

POLICE AND FIREMEN'S RETIREMENT SYSTEM
BOARD OF TRUSTEES
PFRS Board Election Information

Eleven Member Board: 2 Policemen; 2 Fireman; 1 Retiree; 5 Governor's Appointments; 1 Treasurer's Appointment

Dennis Connelly***
TERM: Police Member (11/30/07)
Sherryl Gordon
TERM: Governor's Appointment
John Sierchio**
TERM: Police Member (6/30/10)

Richard D. Loccke
TERM: Governor's Appointment
Mark Kandrac*
Fire Member (6/30/10)
Tom Murphy
TERM: Retiree (12/31/08)

Frank Leake
TERM: Governor's Appointment
Wendy Jamison
Board Secretary
Frederick Beaver
Treasurer's Representative

Richard Mikutsky
TERM: Fire Member (6/30/08)
Gail Griffin - Assistant Board Secretary - Division of Pensions and Benefits
Vincent Foti(I)
TERM: Governor's Appointment

Christine Lucarelli
(DAG - Legal Advisor)
Nicole Fava
TERM: Governor's Appointment