Jonathan Williams on New Jersey’s Unfunded OPEB Liabilities
David Matthau at 92.7 WOBM New Jersey recently spoke with ALEC Chief Economist and Executive Vice President of Policy Jonathan Williams about New Jersey’s unfunded OPEB liabilities, as outlined in the new report, Other Post-Employment Benefit Liabilities, 2019.
“The numbers are scary,” according to Jonathan Williams, the Council’s chief economist.
He said New Jersey taxpayers are on the hook for $130 billion in unfunded liabilities, not including pension liabilities.
That amounts to $14,000 for every person in the state.
The nation’s unfunded post–employment benefit liability is about $1 trillion, according to the report.
“These are promises that have been made that have not been financed and leave states with a whole lot of questions of where to go next when it comes to paying for paying for these,” Williams said.