COMMUNICATIONS WORKERS OF AMERICA

LOCAL 1039

NEW JERSEY

Materials on the current pension crisis:

 

The documents summarize facts and figures about State PERS and other plans, the timeline of the current pension crisis, essential questions and figures on where pension money has gone under Governor Christie, and a Synopsis of the Roadmap to Resolution reform plan.

 

New Jersey Pension Basics

 

Facts and Figures about the State PERS and the rest of the State-funded Pension Plans

 

Pension and Health Benefits Timeline

 

Four Essential Questions

 

Christie's Commission Report

 

(Source: www.cwanj.org)

IMPORTANT LINKS:

The State of New Jersey PERS (Public Employee Retirement System) is under attack.

 

This page is to keep our members informed and educated on the pension crisis.  We will continue to mobilize, organize and fight for our rights, and for our pension for our retirees, current working CWA Members and future workers.

Pension

March 2017

◦ In February, Gov. Christie announced a $2.5 billion pension payment in the state budget. This is only half of the required contribution recommended by actuaries.

 

◦ The Governor also proposed that the State Lottery be transferred into the pension plan as an asset. The value of this asset would be $13.8 billion dollars. In transferring this  asset in, it will lower the unfunded liability.

 

◦ We do not know as of yet: 1) If this is legal; 2) If the amount they say the Lottery is worth is genuine, and 3) If pensions will actually benefit from this.

 

◦ CWA is meeting with the Treasurer to get our questions answered with our lawyer, Steve Weissman, our actuary from Segal Corporation (which is independent of the State) and Adam Liebtag, President of Local 1036 and our representative on the State Investment Council

NJTV News Special Report: Gov. Christie Takes Action on FY 2016 Budget.  Turns his back on the working families that work hard for their pensions and healthcare.

PUBLIC EMPLOYEE PENSION FUNDS UNDER ASSAULT

 

Communications Workers of America Local 1039

13 West Front Street, Trenton, NJ 08608   Tel. 609.394.9151  Fax 609.394.9411 E-mail: info@cwa1039.org

© 2017 Communications Workers of America Local 1039, AFL-CIO, CLC.  All rights reserved.