NJ Senate & Assembly Take a Hard Look at Pension Reform
February 8, 2011 Leave a comment
By Jerry Henry
Governor Christie and Republican lawmakers are proposing dramatic reforms to the state’s ailing pension system. Among the biggest changes: all public employees would pay 8.5 percent of their wages towards their pension, the retirement age would be raised to 65 for most workers and the annual cost of living adjustments would be eliminated. Senate President Stephen Sweeney agrees the pension system needs reform but he isn’t sure about the legality of some of the proposed changes.
Vodpod videos no longer available.