Monday, September 29, 2014
NJ WATCHDOG: Report bears bad news; fails to bare abuses
New Jersey taxpayers will find plenty of bad news in the first report of the special commission Gov. Chris Christie appointed to study the $90 billion deficit in the state’s retirement system.
“This problem is dire and will only become much worse if meaningful steps are not taken quickly,” concluded the New Jersey Pension and Health Benefit Study Commission paper released yesterday.
Yet the findings ignored many of the weaknesses and abuses that have heavily contributed to the dilemma threatening New Jersey’s fiscal health. It did not mention of the sham retirements, double-dipping, disability cheats, part-timers collecting full benefits or generous six-figure pensions that have drained state funds.
The governor’s hand-picked, blue ribbon panel overlooked those abuses – including most of the “seven deadly sins” detailed in a New Jersey Watchdog investigative report earlier this week.
The story is online at http://watchdog.org/173560/nj-pension-report/.