HomeMy Public PortalAboutr 19-096Yvsoluft of the 3orough of Tarterd, N_ J_
No. 19 —%
Date of Adoption 6, 2019
RESOLUTION IN SUPPORT OF PATH TO PROGRESS
RECOMMENDATIONS MADE BY NEW JERSEY ECONOMIC
AND FISCAL POLICY WORKGROUP
WHEREAS, New Jersey faces a daunting fiscal crisis; and
WHEREAS, for two decades, while county and municipal governments made the proper pension
payments, New Jersey governors from both parties severely underfunded the pension system for
teachers and State government workers; and
WHEREAS, while local government pension systems are funded at the national average, the
State's unfunded liability for pensions and retiree health benefits now tops $150 billion — four
times the size of the State budget; and
WHEREAS, actuaries project the State will have to increase its pension contribution from $3.2
billion in this year's budget to $6.7 billion to reach the Actuarially Required Contribution (ARC)
by FY 2023; and
WHEREAS, health care costs continue to rise, and New Jersey and its local governments cannot
sustain the unparalleled platinum -level benefits that they provide to their employees; and
WHEREAS, the State has held municipal aid flat, moved the Energy Tax Receipts out of the
Property Tax Relief Fund, and with the sunsetting of Chapter 78 relief and the 2% arbitration cap;
and
WHEREAS, the State must bring pension and health care costs under control in order to hold
down property taxes.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the Borough of
Carteret express their support for the recommendations of the Path of Progress report issued by
the New Jersey Economic and Fiscal Policy Workgroup; and
BE IT FURTHER RESOLVED that a copy of this Resolution is forwarded to Assemblywoman
Yvonne Lopez, Assembly Speaker Craig J. Coughlin, Senator Joseph F. Vitale, Senate President
Sweeney, Senator Paul Sarlo, Senator Steve Oroho, Assembly Majority Leader Greenwald,
Assemblywoman Eliana Pintor- Marin, Senator Tony Bucco, Senator Troy Singleton, Senator
Dawn Addiego, Governor Phil Murphy, the New Jersey Association of Counties, and the New
Jersey State League of Municipalities.
Adopted this 6 "' day of June, 2019
and certified as a true copy of the
original on June 7, 2019.
KATHLEEN M. BARNEY, MMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.Q.
BELLRU
X
.uPL
X
DIAZ
X
hart
X
04 S=
X
..
X
X - Indicate Vote AB - Absent NV - Not Voting XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
6, 2019
CLERK
Own