Subscribe in a reader

Buy Conservative Advertising

Wikio - Top Blogs

Find the best blogs at

Enter your email address:

Delivered by FeedBurner

No one but the author bears any responsibility for the non-advertising content on this blog. AND PLEASE NOTE: the author neither necessarily uses nor endorses any product advertised on this blog.

« "Harold Ramis: Watch Seven of His Greatest Movie Scenes" | Main | Simply a terrific idea »

June 09, 2014

"The pensions that ate New Jersey"

The Detroit of the East Coast.

Back in January, a report from the Common Sense Institute of New Jersey warned that without serious reforms, the system is headed for bankruptcy. The main reason for this is the outdated system of promising defined benefits rather than the defined-contribution system that dominates in the private sector.

As one coauthor of the report put it: “Defined-benefit plans and politics are a toxic combination.”

UPDATE: Oops, my bad. Rhode Island is the Detroit of the East.


Feed You can follow this conversation by subscribing to the comment feed for this post.

Jack PQ

DB plans are just as bad for the private as for the public sector. The difference is, the private long ago figured it out and switched to DC. The public could not, or would not, figure it out

The comments to this entry are closed.

Powered by TypePad
Member since 07/2003

Shelfari: Book reviews on your book blog