Following the release of the report of the New Jersey Pension and Health Benefit Study Commission and in the wake of the court ruling requiring payments into the state’s public employee pension fund, Assemblyman Wayne P. DeAngelo (D-Hamilton), Deputy Speaker, released the statement below:
“Today is the day that many of us knew would come. No more deferrals or gimmicks will fix the significant multi-billion deficit in the pension fund and state budget.
“For five years, retirement funds for teachers, public safety workers, and public employees have been used as a credit card to cover the state expenses. We can no longer use these working-class individuals to solve the problems that the administration has chosen to push down the road by slashing and postponing pension payments.
“Further delays in action – including appealing the Superior Court decision that calls for full payments to the pension system – will do nothing to provide relief for public employees, retirees and taxpayers.
“I am concerned about, and will greatly consider, how proposed changes or a freeze on the pension system will impact the middle-class families of New Jersey. This is not a decision that can be made with a broad-brush speech. I will keenly review the pension commission report and engage those whose retirement hangs in the balance of any decision that the legislature may make to enact changes to the pension system.”