The Rescue Mission of Trenton received a generous gift from New Jersey last week. In the true spirit of the season, however, the $600,000 grant eventually will be regifted in ways that could surprise even by those who are the heartbeat of the century-old organization.
The Christie administration and other New Jersey leaders are right: The state is facing a significant pension system problem. But those who blame overly generous benefits for these woes are far off base, according to an analysis of the largest 100 public pension plans in the country released today.
If the governor’s intention – to give striving young men and women an “affordable way to continue their education” – is to be realized, then he and the legislature must allow undocumented students access to state student financial aid.
While any monthly report of employment gains is certainly welcomed news, a look at the bigger picture clearly shows that New Jersey’s economy is still stuck in neutral, at a time when the national economy is shifting into higher gear.
This chart alone should do plenty to put to rest the claim that overly generous benefits are the root cause of New Jersey’s pension woes.