Assembly Budget Committee Chair Gary S. Schaer (D-Bergen/Passaic) released the following statement on Tuesday’s ruling from the New Jersey Supreme Court regarding the state’s obligation to fully fund the public employee pension systems:
“While the court may have determined `that it does not have the authority to enforce pension payments, it made several things painfully clear – chief among them ‘that the State must get its financial house in order is plain.’
“The court also noted that the loss of public trust created by the governor’s broken promises is ‘staggering.’
“It is with these points in mind that our approach remains unchanged. We will continue to take the fiscally responsible path to help restore our pension systems to solvency. Hopefully the governor will join us on this path this year.”