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Officials: N.J. towns to save $267M in pension costs thanks to new law
The Christie administration today touted big savings for local governments because of pension reforms as state employees and a judge tussled over lawsuits challenging new requirements for them to pay more for their benefits.
The controversial public benefits overhaul, signed by Gov. Chris Christie in June, shifts a greater share of the costs onto public workers.
Today, the governor’s office said local governments across the New Jersey will save $267 million in pension costs, according to figures provided by the state’s Treasury Department. Supporters said the move was necessary to help save the cash-strapped pension system for future retirees and to help ease the burden on local governments. (Spoto, The Star-Ledger)
