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The legislation now goes to the Assembly.
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Tags: Bloggers, N.J.'s

Gov. Chris Christie used the above example― of a New Jersey teacher who was eligible for $1.4 million in pension benefits at retirement― to describe why New Jersey needs to reform its chronically underfunded pension system for public employees.
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Bloggers have been arguing about New Jersey’s messy, broken pension system for years. Most agree the latest attempts at reform are long overdue. But the debate continues over whether the proposed changes are fair to teachers, police officers, firefighters and government workers who paid into the system in good faith with the expectation that it would fund their retirement. Do the reforms go too far, or not far enough to avert a looming pension disaster?
This week the state Senate passed a package of reform measures, including new rules that would cap the unused sick time retirees can cash in on at retirement,[link widoczny dla zalogowanych], limit the participation of part-time employees in the pension system and require employees to contribute 1.5 percent of their salaries toward their health benefits.