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February, retirement applications have nearly doubled in just the first four months of this year. economics professor theresa gilarducci says many want out before their pension goes bust. it is important for states and localities that have an expensive pension bill right now to reassure employees that they ll get all their pensions. there s no sense for anybody to race to leave. if you re vested and in new jersey it s five years, they can t make those changes to you legally. state senate president stephen sweeney is working against the clock to get a road map to save new jersey s pension fund. i m actually working with the governor on a plan that s going to create a more private sector management type of pension system that i think will be something that could go nationally. while he works on it, retirement applications keep rolling in. ghilarducci says the quality of services will suffer. ....
good morning. welcome. it s thursday morning, may 19th. we have a lot of news this morning including some breaking news. let s begin with that breaking news. the resignation of dominique strauss-kahn as head of the international monetary fund. this move comes just before a bail hearing today in new york. we re seeing this mug shot for first time. the former imf chief is facing sexual assault charges for allegedly attacking a maid in his manhattan hotel room. he says he is not guilty. resigning from the imf so he can defend himself fully. here is part of a statement he released. quote, i think at this time first of my wife, whom i love more than anything, of my children, of my family of my friends. i want to say that i deny with the greatest possible firmness all of the allegations that have been made against me. i want to protect this institution, which i have served with honor and devotion, and especially i want to devote all of my strength, all of my time and all ....