Public Employees Pension Funds in Jeopardy
(Adapted from the Star Ledger and NJEA Review)
Submitted by Claudia Farris
According to recent reports, the decline of the State's pension fund began
in 1994 when Governor Whitman began looking for ways to fund the tax cuts she
promised in her election campaign.
In order to fund the cuts, the State began reducing payments to the pension
fund, which has gone from being the "12th most secure fund in the nation to
81st
the absolute worst."
"In her January budget address, the Governor said her tax cuts will have
saved taxpayers $2.8 billion dollars by June 30, 1997. During the same time
period (according to the Division of Pensions and Benefits) the State is expected
to have put about $3.1 billion dollars less into the retirement system."
The Whitman Administration's $2.9 million dollar pension bond proposal is
mainly intended to strengthen the public employees pension fund without jeopardizing
the State's ability to fund other programs. Iff approved by the Legislature,
the plan would guarantee that public employees who have vested their pensions
would have full right to the benefits, including the cost-of-living adjustment
(COLA) promised at the time they vested. Those base benefits cannot be taken
away even if the law changes.
NJEA (New Jersey Education Association) has a law suit pending against the
State because of its mishandling of the pension fund. However, after carefully
studying the bond proposal and meeting with State officials, NJEA leaders are
convinced that the plan is sound and urge its members to support it. Paying
off the TPAF (Teacher's Pension and Annuity Fund) and PERS (Public Employees
Retirement Fund *sic*) unfunded liability, and guaranteeing pension rights
to vested members accomplish the major goals of NJEA's pension lawsuit.
If you haven't done so, now is the time to let your Senators and Assembly
representatives know how important the fiscal health of your pension fund is
to you. Remind them of the power you wield at election time, and demand that
they keep your best interests at heart.
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The Administrative Assembly is on line. Check out our World Wide Web site
at http://www-rci.rutgers.edu/~assembly/
or get there by going to INFO
at http://www.rutgers.edu and following the links Faculty/Staff
Matters and then Involvement. While you're at our
site, be sure to check the current
Bulletins and Notices for what's happening NOW!
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by Gerald Thomas
As each year passes, it seems fewer and fewer Rutgers employees can smile
or take pleasure in the growth of their pay check. Downsizing, pay freezes,
state politics and a fickle New Jersey economy all influence and impact employee
motivation and career aspirations. As Chair of the
Salary and Compensation Committee, I understand how these issues can
affect employee morale and I have conveyed to Central Administration the need
to enhance university employee relations. I have also expressed my opinion
about the detrimental effect of not offering adequate empoyee compensation.
It is in the best interest of the university to compensate people fairly for
their contributions and work efforts. People are Rutgers' most important
asset and people should be fairly treated.
Pat Grove, Administrative Assembly President, and myself are currently
serving on a salary committee looking at compensation issues affecting the
university. We are reviewing the university's current compensation system,
pay philosophy and Merit Award program. We are also reviewing compensation
systems utilized in other public and private institutions.
I do welcome input from all APS staff employees who may have concerns
about university compensation issues. As a Rutgers employee your voice and
opinions matter. We are receptive to your thoughts, ideas and support in
maintaining respectable salaries and fringe benefits.
Webmaster's Note: E-mail your comments and ideas on compensation to Pat Grove; or phone ( (908)932-1376 ) or Fax ( (908)932-1014 ) them to Gerald Thomas.
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Please come to the Administrative Assembly's
25th Anniversary Picnic to be held on Sunday, June 8 from 2p.m. until
dusk at the Log Cabin, Cook Campus. There will be food, entertainment, games,
activities, music and much more. Registration forms have been distributed
on all campuses, but if you are in need of one, please call your
campus liaison or contact
Elena Buchanan at University College in New Brunswick, extension 2-0874.
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by Edith Frankel
The flowers of Spring are bursting on the scene, the temperature is
(slowly) rising to a Springy comfort level, and Spring fever is
definitely setting in! A critical part of this Springy syndrome is to begin
planning for our wonderful outdoor activities. Has it been a whole
year since last Spring and the last Rutgers Team bicycle ride?
The warm memories are still vivid in my mind.
Well, believe it or not, a whole year has passed, and it is again time to
begin planning for our next Heart Ride. For those of you who participated
last year, based on my feedback, I am sure all of you will be riding again
this year, right? For those of you who were unable to ride last year, this
is your second chance to sign up and participate in the great event.
I would love to see the number of riders doubled this year. That would mean
that twice as many people would be enjoying a marvelous, healthy, charitable,
diverse community experience. So, gear up your bicycle, start getting those
legs in motion, and sign up for a fulfilling and healthy day.
A small review for those who somehow hadn't heard of this wonderful
event. Last year I (who had been riding alone for various charities for several
years) decided that I should share this great experience with others. So, I
started a Rutgers Team (open to students, faculty, administration,
staff, and friends and family). It turned out to be a marvelous success for
the riders and for the Heart Association. (We had twenty-three riders, and raised
over $1400).
Here are some details which, I am sure, will convince you to participate
There are several distances to choose from you choose the distance that
you feel capable of completing comfortably. You ride at your own pace (this is
not a race) and enjoy the scenery. The choices of distance are 5 miles, 10
miles, 25 miles, or 50 miles. Early in the morning, after free coffee, bagels
or doughnuts, etc., you check in and turn in the donations that you have
raised. You then receive your trip kit, which includes a map of the route
distance you chose. Then you take off on your ride either individually or
with a group and enjoy! There are rest stops with refreshments every few
miles, Sag wagons for support if you get tired or need help, bike mechanics
and friendly volunteers. When you complete your ride and have come back to
the check-in area, lunch, music, sometimes even a massage, prizes and more
are waiting for you (including your friends and colleagues). Then you sit
down and enjoy!
I am sure everyone will agree that this is a terrific way to get some good
exercise and fresh air, see some beautiful scenery, offer something to the
community, and maintain/establish some pleasant cameraderie/friendship. It's
almost a guarantee that you'll enjoy every minute of the day! There are also
some great prizes to match the sponsor donations you have raised. The more
you raise, the better the prizes.
If you wish to register for the ride AND receive a Rutgers tee shirt, contact
Edith Frankel at the Newark Registrar's Office (Ext. 5372).
P.S. This year's ride will take place in the beautiful countryside near
Clinton in Hunterdon County.
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