News Item:
NJ pension funds in a black hole

$25 billion, on the low end.  $56 billion, on the high end.
Those are the numbers being bandied about to describe the shortfall in New Jersey public employee pension funds.  Just a few short years ago, these funds were fully funded.  Now lawmakers are scrambling for explanations.  The powers that be in Trenton blame the collapse of the stock market in 2001.  Was that short downturn really that bad?  Hasn’t the market set a lot of records since then?  There are all kinds of reasons and excuses, of course.  Enlighten-NJ spells them all out.

Full Story: Enlighten-NJ

Cartoon from Sid in the City

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