The state's teacher's union and its members' pensions have been taking a good deal of the blame for pretty much every financial problem in the state.

The NJEA is fighting back, with a  press release and chart showing that while members have been contributing 5.5 percent of their salaries to the pension fund, the state has contributed almost nothing.

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The chart goes back to 1996, when the stock market was booming and earnings on investments kept the pension fund growing at a healthy clip without the need for a state contribution.

But then the stock market tanked, followed by the economy, and now everyone's yelling for pension reform because the state can't afford the payments.

 

 

 

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