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Local 3977, N.J.S.F.T., AFL-CIO

                  Champions of Education

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President:
Rob Barbier
 
 

To All Members of the GFT:

Governor Christie’s projected tax revenues did not materialize and now he’s attempting to close the hole by pushing back this year’s legally obligated pension payment into FY 2015. And while that might not sound so bad, in the end this little budget trick will end up shorting the pension system by nearly $2.5 billion in legally required payments for FY2014 and FY2015, putting the future of our retirement system in grave jeopardy. 

It’s time for Christie to stop kicking the can down the road, fulfill his pension promise as outlined under chapter 78 of the Pension Law and deal with his revenue problem. That’s why AFTNJ has joined with the NJ AFL-CIO and our public sector allies on the Public Employee Council (PEC) to demand the following legislative changes:

Pass legislation before June 30, 2014 that requires quarterly payments to the pension system – so massive cuts cannot be made at the last minute.

An end to actuarial and budget gimmicks that put our retirement system in grave danger. Pass legislation that ensures actuarial standards cannot be changed by the Treasurer after they have been certified for that year. These gimmicks add massive debt to the unfunded liability. 

For FY 2015 - End corporate tax breaks and institute the Millionaire’s Tax to help raise the needed revenue to close our budget deficit and repay the money owed to the pension system.

To support these common-sense measures, the campaign is asking members of the respective retirement programs (Teachers’ Pension and Annuity Fund, Public Employees’ Retirement System, The State Police Retirement System and the Police & Fireman’s Retirement System) to complete the advocacy form at http://aftnj.org/topics/cope/2014/take-action-to-save-your-pension/

The links on that page jump through to online petitions on NJEA's web site, which set up the advocacy system as a participant in the PEC.

Please forward this message to your members. Also, if you have relatives, friends or neighbors who are public school teachers, firefighters, police officers or state workers, chances are they are in one of the systems so send them the direct link or tell them to visit www.aftnj.org.

 

In Solidarity,
Robert Barbier


 

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