Can you name a place in the US where a cop can get 100K a year in Retirement?
You can’t, unless you count the Port Authority of New York and New Jersey where they have guys retiring with 150K a year pensions for life
The pension is technically illegal in New Jersey since it is debt that has not been approved by the tax payers, this has been ruled by the state supreme court.
Politicians in the state have been doing nothing but making promises, the liberals made these same promises as well, but the liberal police unions don’t dare go after their own guys. Just Christie, because he had the cojones to tell them the real situation once his team was able to look at the real numbers after election. Remember Jon Corzine published “cooked” numbers prior the election, once Christie got in the state was in serious financial trouble. So yes, promises made on rosy numbers published by the Corzine administration were invalid and all promises should be called off. You want to be mad at someone, be mad at the democrats from promising you lofty pensions with no realistic ways to pay for them. Remember, your union supported these RATS
The Port Authority Police is semi private. They have their own pension system and they have a non contributory pension meaning they don’t pay into it. When they retire it’s a complete gift, they are not the same as local municipal police. Local police pay for medical and pension every check. Also they pay for medical after retirement as well. Cost of living increases have been removed for pensions as well. Again I am not saying a conversation regarding benefits should not be had I think I have made that clear. If left alone the police pension system would be completely solvent but issues arose only after Governor Whitman decided the state could borrow money from the pension system that was never repaid. So basically they raided the retirement funds and Why? Because politicians cannot stand to see a pool of money with out getting their hands on it. Same thing happened with social security at the federal level.
And as far as a place where police get fat pensions look at California where every year worked gets you 3% of your salary for retirement, so 30 years in and you retire with 90% pension. That’s extreme and new jersey is nowhere near that.