How to sell out public employees and take their money
New Jersey Governor Chris Christie knows how to talk the talk. He says the state simply has no choice but to “stop the insanity of a defined-benefit pension system that we cannot afford.” It’s purely a coincidence that Christie is aligned with the very people that stand to cash-in huge when New Jersey switches to a “hybrid” retirement system for public employees. That’s where you get a pension that doesn’t cover your expenses and hopefully the 401K will cover the rest if you’re lucky.