I will protect your pensions. Nothing about your pension is going to change when I am governor. - Chris Christie, "An Open Letter to the Teachers of NJ" October, 2009

Tuesday, March 15, 2011

Looking For Steve Sweeney's Brain

Still can't find it:
Sweeney said in an interview Tuesday that his plan, if enacted, offers even tougher medicine than Christie's ideas.
Sweeney said he expects that state and local government workers will have to pay some 15 to 16 percent of their salaries for their pensions in order to keep those funds adequately financed.
That's nearly double what most police pay now and three times what an average worker contributes to his or her pension plan.
"We have to do some things that are dramatic," Sweeney said. "But to do nothing, to pay nothing — you can't ignore it. We have to make changes and I know people won't be happy about it."
You want me to shell out 15% of my salary for a pension? A pension that the state has a long track record of not paying into? And you want this to remain MANDATORY?

Sorry, Steve, but screw you. It's a lousy deal and I don't want it - who would?

Everyone in the corporate reform movement goes on and on about how my union dues are mandatory. The thing is, I get something of value for them (I can also opt out of part of them, a little known fact).

You, Senator Sweeney, want to FORCE me to pay far more into the pension and get far less in return. Why should I? Give me back everything I paid in, plus interest, plus the contribution you were SUPPOSED to make. I'll even let you defer that (with interest, of course). My local can negotiate with my local school board and I'll set up my own 403b where they can match my contributions and I can take my own chances - because your offer sucks.

Now, Senator Sweeney knows he can never, ever take me up on my offer. Because, right now, I and my fellow public workers are the only thing keeping the system afloat. If we opt out, the current retirees will have to be paid out of general revenues, and that will be a fiscal disaster.

So Sweeney - and Christie - keep playing this game about how they "want us to have a pension." Sorry, boys, but we're on to you: you couldn't care less if we have pensions. You want - no, you NEED our money now.

If we ever call your bluff, fellas, you are in a world of trouble. And I think you know it.

1 comment:

Anonymous said...

"Senate Majority Leader Stephen Sweeney (D., Gloucester) said lawmakers should bear the blame for skipping payments.

"Indict the Legislature because they are 100 percent at fault," he said. "They didn't listen to the actuaries, because the actuaries at the time said don't do this."
Source: The Philadelphia Inquirer)By Jonathan Tamari, The Philadelphia Inquirer
Nov. 25, 2008