Bill to overhaul Jersey City pensions passes

Bill to overhaul Jersey City pensions passes

Posted: Updated:
New Jersey News New Jersey News

TRENTON, N.J. (AP) - A bill that would overhaul the pension system in New Jersey's second-largest city is headed to Gov. Chris Christie.

The state Senate on Monday passed the bill which reduces cost of living adjustments in Jersey City's pension plan. It also raises the retirement age for new employees from 60 to 65 and requires them to have 25 years of service instead of 20. The measure also increases penalties for early retirement.

Senate President Steve Sweeney amended the measure to apply savings from the lower cost of living adjustments to bolster the pension system instead of shifting the money to the general budget.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • New Jersey NewsNew Jersey NewsMore>>

  • Friday Night Live: July 25, 2014

    Friday Night Live: July 25, 2014

    Friday, July 25 2014 10:31 PM EDT2014-07-26 02:31:59 GMT
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: QuickChek New Jersey Festival of Ballooning, Stephen "Twitch" Boss, actress Mary Lynn Rajskub, and Michael Chernow and Chef Daniel Holzman of the Meatball Shop.
    This is Fox 5's Friday Night Live, a weekly celebration of the end of the work week. All summer long, the Fox 5 team brings you the latest in entertainment, nightlife, food, and music in our area. In this jam-packed episode: QuickChek New Jersey Festival of Ballooning, Stephen "Twitch" Boss, actress Mary Lynn Rajskub, and Michael Chernow and Chef Daniel Holzman of the Meatball Shop.
  • Maryland casino to interview workers from closing Atlantic City casinos

    Md. casino eyes workers from closing Atlantic City casinos

    Friday, July 25 2014 4:32 PM EDT2014-07-25 20:32:23 GMT
    AP photoAP photo
    A Maryland casino is looking to hire some of the soon-to-be-jobless Atlantic City casino workers. Maryland Live! is holding job fairs next week at the Sheraton hotel across from the Atlantic City Convention Center. The Hanover, Maryland casino held a similar recruitment effort in January when The Atlantic Club shut down.
    A Maryland casino is looking to hire some of the soon-to-be-jobless Atlantic City casino workers. Maryland Live! is holding job fairs next week at the Sheraton hotel across from the Atlantic City Convention Center. The Hanover, Maryland casino held a similar recruitment effort in January when The Atlantic Club shut down.
  • Jersey City swears in new firefighters

    Jersey City swears in new firefighters

    Friday, July 25 2014 3:23 PM EDT2014-07-25 19:23:09 GMT
    AP photoAP photo
    Jersey City has 26 new firefighters, including the city's first black woman to wear the uniform. Mayor Steven Fulop swore in the newest members of the department during a ceremony at City Hall on Friday. The city said the hiring was made possible by funds from a $6.9 million federal grant that was announced in January.
    Jersey City has 26 new firefighters, including the city's first black woman to wear the uniform. Mayor Steven Fulop swore in the newest members of the department during a ceremony at City Hall on Friday. The city said the hiring was made possible by funds from a $6.9 million federal grant that was announced in January.
Powered by WorldNow

4739 NW 53rd Avenue, Sutie B
Gainesville, FL 32653

Phone: (352) 371-0051

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices