PBA PRESIDENT COLLIGAN LAUDS BI-PARTISAN PASSAGE OF PENSION LEGISLATION; CALLS UPON CHRISTIE TO SIGN THE BILL

WOODBRIDGE – Following the New Jersey General Assembly’s overwhelming passage today of legislation spearheaded by the State PBA, State FMBA and State FOP allowing the Police and Firemen’s Retirement System to be wholly managed by a board comprised of law enforcement, firefighters and government officials, New Jersey State Policemen’s Benevolent Association President Patrick Colligan called upon Governor Chris Christie to sign the bill into law.  Today’s bi-partisan vote in favor of the bill in the Assembly, arrives on the heels of the bi-partisan 37-0 vote in favor of the bill in the State Senate last week.

“Today’s vote is a huge step forward in allowing for a board of real stakeholders to manage our pensions,” said Colligan.  “Both the Senate and Assembly have now voted resoundingly in favor of this common sense measure, and all of our members are calling upon Governor Christie to take the next step and listen to the overwhelmingly bi-partisan call to sign this bill.  The fact is that almost twenty years of pension gimmicks have reduced the funded value of the PFRS from over 100% in 2000 to just over 70% funded today and the steps we are taking to gain control of our financial future are critically important to all of our members and their families.  This legislation installs a system we have seen work in other parts of the country to ensure people receive the pensions they earned at no harm to taxpayers and we look forward to having the same opportunity here in New Jersey.”

Colligan also praised, and thanked, the hundreds of members lining the halls of the Statehouse today to show their support for the legislation, as well as members throughout the state.  “The tremendous turnout of our membership on one day’s notice is nothing short of astounding.  The level of solidarity on display today in favor of this legislation is a great indicator of the urgency all of our 33,000 members feel as it relates to arriving at a positive outcome to protect members’ pensions.  I want to thank all of the members in attendance, all of the members who have been checking in and asking how they can help on their off-time, and the members who have made their voices heard across this great State to their elected officials and representatives.  All of their efforts helped lead us to this huge bi-partisan victory today.”