Pension Contributions - Ledger - Plainfield Data

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Published in the Star-Ledger, Sunday, August 6, 2006

Union pensions Between 1997 and 2004, as the stock market boomed, the state allowed local governments to skip payig into the state pension systems. To ease the burden when the free ride ended in 2004, the state phased in payments over a five-year period that ends in 2009.
MUNICIPALITY/ENTITY	PAYMENTS TO POLICE AND FIREFIGHTERS	PAYMENTS TO PUBLIC EMPLOYEES	SYSTEM TOTAL	INCREASE TO POLICE AND FIREFIGHTERS' PENSION FROM LAST YEAR	INCREASE TO PUBLIC EMPLOYEES' PENSION FROM LAST YEAR
Plainfield City	$2,762,425	$394,538	$3,156,963	47%	80%
Plainfield Board of Education		$513,802	$513,802		90%
Plainfield Housing Authority		$57,532	$57,532		100%
Plainfield Municipal Utilities Authority		$138,770	$138,770		90%
	DATA: Star-Ledger, Sunday, August 6, 2006

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