NEWJERSEY: Public Pension have bigger problems

http://apnews.myway.com/article/20091228/D9CSJBM80.html

NJ lawmaker proposes public pension reform
Dec 28, 5:49 PM (ET)
By ANGELA DELLI SANTI

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TRENTON, N.J. (AP) – A New Jersey lawmaker is planning to introduce legislation that would bar nongovernment workers from enrolling in the state’s taxpayer-funded pension system.

Assemblyman Paul Moriarty’s bill would restrict eligibility to the Public Employees Retirement System by keeping lobbyists and others out.

Currently, employees of some 17 private groups are eligible for state pensions.

“Why should the taxpayers pay even $1 to someone who is not a state employee, but a lobbyist who is trying to get special favors,” asked Moriarty, D-Turnersville.

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Why do we have such “public pension funds”?

Private industry has gone to 401ks for “pensions”.

The “State” hasn’t made a contribution to the pension fund in a dog’s age. Surely that’s a bigger problem then a few bottom feeders pigging out at the trough.

Perhaps it’s time to “reform” the whole problem.

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