New Jersey: “a terrible place on which to base pension policy”

For someone tasked with easing fears over a collapse of public pensions NASRA’s Keith Brainard is stumped when presented with the case of New Jersey, as he was in front of over 1,000 pension actuaries at the last Enrolled Actuaries meeting:

Mr. Brainard ended his response to my question by saying:

“We get the government we deserve and New Jersey voters ought to stand up and demand better.”

I just got the recordings of that EA meeting and I had forgotten this comment.  Now that I hear it again I wonder how much Mr. Brainard really knows about New Jersey.

My most recent experience with a public employee was at the last Union County freeholder meeting when I was called a “fucking asshole” by someone whose lifetime health benefits I am paying for now that he has retired and the freeholders passed a resolution earlier this year to provide those benefits though they had no idea of the cost.

Until you have witnessed for yourself the hubris of public officials, the avarice of political donors, the sense of entitlement of public employees, and the apathy of the citizenry you can never really grasp the real state of New Jersey.

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