Even his critics say this is a good move -- but note it is going to have an impact that is marginal at best. While the Governor says this is going to save the state BILLIONS over years, its potential will not make much of a dent in the estimated $200 + Billion in unfunded pension liabilities. Yet this governor has done what others have tried for over 70 years and failed to accomplish -- consolidating some 650 separate pension plans into two - one for police and one for firemen. This will cut out the duplicative costs of each pension plan having a separate financial advisor and plan administrator, with each getting a salary. Now those costs will be greatly diminished and some estimate it may mean as much as a 2% increase in the pensions' returns on an annual basis -- which may sound small, but with billions invested, means millions in annual savings.
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