The $86 billion system that funds pensions for public workers, state troopers, local police and firefighters, and teachers lost ground in the first year public workers were required to pay more toward their retirements, according to reports released Monday.
A contentious bill raising pension and health benefits costs for more than a half-million New Jersey government workers goes back to the state Senate one more time on Monday for a formality vote.
The debate over public employee pension and health benefits legislation wound up taking so much time that the New Jersey Legislature is under the gun to approve a state budget in nine days.
New Jersey legislation requiring public workers to shoulder a larger portion of their pension and health benefits costs and restricting collective bargaining over health care picked up steam this week.
New Jersey's governor and Senate president reached a deal Wednesday that would make public employees pay more for pension and health benefits, but Assembly Democrats refused to go along.
New Jersey Gov. Chris Christie and the Legislature are inching closer to a deal to change health and pension benefits for public workers across the state.