NY Times: N.J. Pension Fund Endangered by Diverted Billions

From a retiree, April 4, 2007
Subject: New Jersey Problems

Kathie -

Here's an article from today's NY Times that might be of interest to blog readers. It demonstrates how threats to your pension can come from many directions, even "friends" in political office who see our rich pension funds as bail-outs for poor fiscal planning in state government.

Along the same lines as New Jersey, Ohio Gov. Jim Rhodes proposed making STRS funds available to help finance state projects during his second term. Fortunately for us, a Democrat majority in the legislature stopped it.

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Click here to view article
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Follow-up articles:

April 5, 2007: Outside Audit Is Promised for New Jersey Pension Fund

NJEA statement on public employees’ pension funds