A characteristic of money is that it can flow in any direction. This was evident when school aid was drastically cut around the same time the state’s public pension contribution was significantly increased. Using private sector taxpayer money, the state is planning to make a $4 billion payment to the public pension fund for fiscal year 2020. For fiscal year 2021 the state plans to make a record payment of $4.6 billion.
To put $4.6 billion dollars in perspective, there are 21 counties in New Jersey. Equally divided that would give each county $219 million. Student population would be one factor in how much each county actually got. If Sussex County received only half of the $219 million, that $109.5 million would be $14 million more than the $95.7 million the state is giving the county for the 2020-21 school year.
These multi-billion dollar pension payments are in addition to the billion dollars diverted into the pension funds annually from the state lottery, which could provide an additional $47.6 million per county for education funding. The education community didn’t say diddly- squat when lottery funds that could be used to support education, went for their free pensions.
If county schools were to receive this amount of added funding instead of it going for unearned pensions, New Jersey wouldn’t have the highest home foreclosure rate in the nation, or the highest percentage of people leaving the state.
Since Oroho, Space, Wirths and their cronies let the 2% salary caps expire for select public employees, new salary contracts are going above the 2% ; sowing the seeds for an eruption of $100,000-plus pensions to flourish. Homeowners and businesses that choose not to move out of New Jersey and continue to vote for incumbents, can eventually expect to fund education 100% so career criminals/politicians can divert all school funding to public pensions.
Tris Tristram, Hampton