New Jersey: Senate passes state worker pension reform measures
According to the PolitickerNJ:
TRENTON - With a majority arguing that the state pension system needs to get on better financial footing, the Senate tonight passed a package of state worker pension reforms by a vote of 30-8.
Sen. Stephen Sweeney of South Jersey introduced the controversial proposal in what he described as a bipartisan vein.
"I make my living as a union leader," Sweeney tod the Senate chamber. "You can go out of business if you don't manage your funds properly. These are modest not major reforms."
The reforms raise the retirement age of future state workers from 60 to 62, and require future state workers to make a minimum of $7,500 to qualify for a state pension.
Republicans backed Sweeney with the exception of Sen. Bill Baroni (R-Mercer).
Sen. Minority Leader Thomas Kean (R-Union) thanked Senate President Richard Codey (D-Essex) for posting the bill and Budget Committee Chair Barbara Buono for getting it out of committee.
"I hope the conversation goes on, ona bipartisan basis," said Kean. "We have important work to do to make sure individuals are not gaming the system."
Senators Jim Whelan (D-Atlantic) and Kip Bateman (R-Somerset) noted that the reforms are necessary to help teachers and other state workers who put in at least 20 hours per week.... click to continue.
