Cashing in on Sick & Vacation Days

By Briana Vannozzi

In Jersey City, 174 workers filed for retirement in 2010.  Officials say because of that they’ll have to float a bond for more than nine million dollars to pay for the anticipated payouts in accrued sick and vacation days.  Parsippany will take a hit of three million for the 17 police officers retiring there. Last year the senate unanimously approved a bi-partisan bill capping the value of unused sick time for retiring employees at 15 thousand dollars, a provision state employees have followed for years.

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One Response to Cashing in on Sick & Vacation Days

  1. Vinnie Frantantoni says:

    This legislation is long overdue. Government employees are no longer “public servants”, (if they ever were) they are now served ROYALLY by the public. Why are we paying them at the current years rate of pay for sick days accrued 25 or 30 years ago. Perhaps the IRS should impose a CAPITAL GAINS TAX on these windfall payouts.

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