ASSELTA WELCOMES PENSION SYSTEM INVESTIGATION - FINDS ALLEGATIONS ALARMINGAsselta also calls on State Treasurer and Director of Pensions and Benefits to offer explanation and solution to Budget Committee             Senator Nicholas Asselta, (R-1),  issued the following statement regarding media reports that the  State pension fund is under investigation by the Federal Security and Exchange Commission (SEC):                        “I am deeply alarmed, but not surprised, by media reports that the State’s pension fund is under investigation by the SEC.  Sadly, nothing in Trenton surprises me anymore!  Many of us have tried to raise awareness of this dangerous situation as the State has employed more unorthodox and fiscally unsound accounting practices that executives at ENRON and TYCO went to jail for with respect to the pension system.                         “The impending crisis in our State pension system requires an immediate and public accounting from the responsible officials of the Corzine Administration.  The State Treasurer and the Director of the Division of Pension and Benefits must appear before the Senate Budget and Appropriations Committee to respond to the alarming allegations raised by the media.                        “We cannot delay action on addressing the crisis facing this State pension system any longer and the budget process should not move one step forward until that happens.   We must take action immediately to secure the retirement funds of thousands of state employees and retirees who contributed to the State’s pension system in good faith.”     

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