Wimberly Not Surprised by Veto of Public Employee Pension Contribution Credit

(TRENTON) – Assemblyman Benjie E. Wimberly (D-Bergen, Passaic) released the following statement on the Governor’s recent veto of his legislation (A-3310) that would prevent the increased pension contributions made by public employees from being hijacked by current and future administrations to offset the contributions owed by the state:

“Unfortunately, the absolute veto is not surprising. As much as the Governor stresses pension reform, this administration has not shown any real concern or made any real attempt to protect pension contributions and meet the state’s obligation.

“Hard-working, dedicated public employees have, for the last three years, contributed more to help restore solvency to their retirement systems under the pension and benefit reforms that were passed in 2011. This was an opportunity to protect their investment and secure the futures these contributions depend on.

“It’s unacceptable for this administration or any future administration to try and manipulate the books by pawning additional contributions made by public employees off as the state’s.

“It is also not necessary to wait for a study commission report before doing what should have been done long ago –guarding public employee contributions.”