Full article; http://www.nj.com/politics/index.ssf/2015/01/how_did_nj_get_into_this_pension_mess.html

Is it true that Christie has contributed more than any other governor?

After skipping a $3.1 billion payment in fiscal year 2011, Christie contributed $484 million in 2012, $1 billion in 2013 and $696 million in 2014 — more than any of his five predecessors. He’s expected to make a $681 million payment this year.

Former Gov. Christie Whitman’s payments totaled roughly $1 billion, while the state contributed $100 million under James E. McGreevey and $2.1 billion under Jon Corzine.

But Christie’s payments are still a fraction of what is needed to keep the pension system from piling up even more debt.


50Christine Todd WhitmanJanuary 18, 1994January 31, 2001Republican

51Donald DiFrancescoJanuary 31, 2001January 8, 2002Republican1/5

John Farmer, Jr.January 8, 2002January 8, 2002Republican

John O. BennettJanuary 8, 2002January 12, 2002Republican

Richard CodeyJanuary 12, 2002January 15, 2002Democratic

52Jim McGreeveyJanuary 15, 2002November 15, 2004Democratic

53Richard CodeyNovember 15, 2004January 17, 2006Democratic

54Jon CorzineJanuary 17, 2006January 19, 2010Democratic

55Chris ChristieJanuary 19, 2010incumbentRepublican

Democracy is to blame.

As one of my favorite economists, Frédéric Bastiat said in The State in Journal des débats (1848) par. 5.20.:

"The State is the great fiction through which everyone endeavours to live at the expense of everyone else."

Actually a lot of the blame falls on the legislature, after Whitman raided the fund for 250 million, to balance the budget and the stock market was doing very well, the legislature decided it would be a good thing not to put any money in to the pension funds.  They also allowed the local and county governments to take  a pension payment holiday for over 5 years.  Then when the reports of under funding were coming the local and county had to start contributing again but only 20% the first year and it increased 20% a year till they were back at full contribution.  Also within the pension system are several funds for different workers, PFRS for cops, firefighters, corrections, the PERS for staff like clerical, the SPRS for the State Police, the JRS for Judges, and the TPAF for teachers.  Within the PERS and PFRS are two funds one for state workers and one for local, they are separate and and guess what the local portion of those funds are doing better than the state portion because Christie his not funding them properly.  One of the proposals is to merge the funds into one which the league of Municipalities is fighting.

Facts be damned!

Some  here have accused the Republican governors of failing to make "deposits" into the "public service unions" pension plans.  Where the hell to these individuals think these dollars come from? The money tree?

I have to believe that if you live in NJ, own a home that has an already exorbitantly high taxable rate, you are no longer capable of  paying "higher real estate taxes" to fund these ridiculous and unreasonable pension plans. This gravy train has run dry and it is time to suck it up and face facts.  

Like I said, a whoring governor can promise you anything, but where the dollars come from is another story.

We would be sound financial shape if the bribes would stop, the sweetheart jobs and kick the politicians out of the pension system. It is the state fund they raided. I am local government and we are 92% funded versus the state being  47%. I have one Freeloader ask for my help in being reelected because he said ' I need the pension and benefits' , he has a family business also.
BTW, he is not a freeloader any more, he was such an ass he lost a lot of votes