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Originally Posted by njbchbum
there is a lot of truth in the article...but i do take issue with the blanket application of fact/belief used by the author. not all public pensioners benefit from the benevolent provisions described in the article.
both my husband and i are recipients of public pensions...but we do not reap the benes described by the author. each of us pays toward our medical/health benefits and neither of us benefits from automatic pension increases - nj is contemplating a 9% cut back, in fact...not what we were "guaranteed"!
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You said, "neither of us benefits from automatic pension increases." In the article, the author states, "Note that all we are talking about here is
reducing the rate at which the pensions of retired public employees will increase. This at a time when private sector employees are being laid off, seeing their salaries cut, and their investments have declined in value."
So really the article doesn't reflect on you or your pension. I agree with you about blanket statements. Not every state is in the same dire straits that New Jersery's pension plan has found itself in. New Jersey isn't the only state in this shape either. But on the other hand, some states are still doing okay comparitively.
I don't live in New Jersey, but I like what I've read and heard about Chris Christie. It is a beautiful state and I hope he can help turn things around.
http://www.powerlineblog.com/archive.../08/026948.php