Labor & Economic News Blog
Friday, June 15, 2007
Trying to save, N.J. actually drove up pension costs
Trying to save, N.J. actually drove up pension costsIn 2002, struggling to close a huge budget gap, the New Jersey Legislature hurriedly passed a bill offering thousands of state employees generous early retirement packages. Unions applauded because layoffs had been averted. Gov. James E. McGreevey claimed the state would save millions by cutting its payroll.
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