AFP-NJ: Garden State is Hosed by Pension Crisis

Trenton, NJ – Today Americans for Prosperity-New Jersey (AFP-NJ) released the following statement regarding a new report from the American Legislative Exchange Council (ALEC). The report, which ranks New Jersey’s unfunded pension liability per capita and funding ratios at 42^nd and 46^th worst among all 50 states, details the threat posed by unfunded public pension liabilities to state governments.

AFP-NJ Deputy State Director Tony Howley issued the following statement:

“This new ALEC report confirms what we’ve long known about New Jersey’s pension system: It’s failing. This crisis has been looming over our state for decades, and it’s only going to get worse. ALEC confirms what we’ve known for some time, and that is that New Jersey residents cannot afford further inaction. Legislators in New Jersey should take immediate action to save our state by finding a legislative solution to shore up our pension crisis.”

AFP-NJ Background on Pension Crisis:

• https://www.alec.org/app/uploads/2019/03/Unaccountable-and-Unaffordable-WEB.pdf
• https://www.forbes.com/sites/realspin/2016/07/12/pension-reform-is-at-a-crossroads-in-new-jersey/#1a1172fd6ed9
• https://www.insidernj.com/press-release/afp-new-jersey-calls-gov-murphy-address-pension-crisis-support-common-sense-reforms/
• https://www.northjersey.com/story/opinion/contributors/2017/08/22/fixing-new-jerseys-failing-pension-system-economic-necessity/589657001/