RELEASE: TRENTON FAILS NEW JERSEY WORKERS & FAMILIES YET AGAIN
FOR IMMEDIATE RELEASE: August 9, 2016
False Promises On Transportation Trust Fund & State Public Worker Pension Plan Amendment Provide Further Proof Trenton Can’t Be Trusted On Casino Expansion
Newark, NJ (August 9, 2016) – Today, Trenton politicians broke their word yet again and dealt a blow to public workers’ pensions as the elected body failed to get the New Jersey Public Worker Pension Plan amendment onto the November ballot for a vote.
This comes on the heels of news that the Transportation Trust Fund is nearly bankrupt, and $775 million in State Transportation Department projects and $2.7 billion in New Jersey Transit projects have been shut down and led to worker layoffs as recently reported in The Record.
“First, Trenton promised it would adequately fund our infrastructure and they failed to deliver. Then, these same politicians promised public employees this amendment would be on the ballot in November and nothing,” said Bill Cortese, executive director of Trenton’s Bad Bet. “They have failed New Jersey residents again and again. This is just another example why they cannot be trusted concerning North Jersey casino expansion.”
The amendment – The Constitutional Amendment Concerning State Pension Payments and Public Employee Pension Benefits – was intended to require the state to make four regular payments into public employee pensions every year rather than annually. The amendment was supposed to give workers the guarantee they thought they secured in 2011 under a pension reform law, but the state last year ruled that it was not obligated to make the pension payments. To make matters worse, the state’s credit rating has been downgraded from stable to negative in the S&P and Moody’s has dropped the rating nine times since 2010.
For more information about the Trenton’s Bad Bet, or to follow the group’s social channels, make donations, and find other opportunities to get involved, visit the group’s web site: www.TrentonsBadBet.org
# # #
About Trenton’s Bad Bet
Trenton’s Bad Bet is a diverse collection of concerned New Jersey community leaders, unions, businesses and residents that will work to oppose the New Jersey Casino Referendum that seeks to expand gaming into North Jersey.