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As the state Pension and Health Benefits Review Commission prepared to convene Friday to consider revisions for eligibility in the public employees' and teachers' pension systems, Assemblywoman Caroline Casagrande (R-Monmouth) Thursday urged the panel to endorse her proposal that would change the criteria from one based on salary to one that considers the number of hours an employee works.
"As long as we are talking about salary, the reality is that political appointees will continue to game the system," Casagrande said. "There is only one solution to ensure that pensions are going to full-time employees. Our system is in desperate need of reform and a change in the standards is of paramount importance.
"Providing a pension for full-time, career professionals is practical and fair," Casagrande added. "An hours-worked requirement would remove the political appointees on part-time boards and commissions, and make sure our pension system is solvent for career civil servants. Unless we change course, the system presently in place will eventually fail."
In a letter written to the commission, Casagrande pointed out that the number one recommendation made by the 2006 Joint Legislative Committee on Public Employee Benefits Reform was to limit pension plans to full-time employees.Last year, the commission recommended that a study of the system's annual minimum hour requirement for credit in the pension system be undertaken. However, there has been no movement on the suggestion.
"The status quo is unsustainable and will inevitably result in either additional contributions to the fund or a reduction in benefits," Casagrande said. "The state's unfunded pension liability continues to increase. We must act now and stop procrastinating. The first step is for the commission to recommend this legislation for enactment. We cannot afford to wait any longer."
Casagrande is sponsoring legislation, A-3959, to base pensions on the number of hours worked.
– TOM HESTER SR., NEWJERSEYNEWSROOM.COM
JOIN US AT NEWJERSEYNEWSROOM.COM:
In the Private Sector, employes get a year of service credit ONLY after they have completed 1000 hours of paid service IN THAT YEAR. This is specifically allowed by ERISA (the Law applicable to Private Defined Benefits Pensions Plans).
The SAME 1000 hour rule should apply to Civil Servants.
Thank you ... press on !