Senate committee advances direct deposit requirement for State Workers
A Senate committee advanced a bill Thursday that would require the state to pay its employees by direct deposit.
The measure aims to save money by no longer paying employees with paper checks. An analysis conducted for the Assembly, which has already passed a version of the bill, estimated the state save about $540,000 in fiscal year 2015, the first year the state would see the full benefits of the requirement.
“On its own, the savings may appear small, but every penny government can save in administrative overhead is a penny that can be either reinvested in vital programs or returned to taxpayers,” bill sponsor Sen. Bob Gordon, D-Fair Lawn, said in a statement. “We should never be afraid to make business-wise decisions because we think they save too little. Every savings we find, no matter how small, adds up.” (Linhorst, The Record)
come on now.
Has anyone in the state legislature done an analysis of how much more it will cost state employees to access their pay under a debit card system?
I guarantee it will cost state employees upwards of $5 million a year in ATM fees to access their pay.
That’s $4.5 million taken out of the real economy and given to the big banks.
Great job!