March 23, 2010
LEAGUE APPLAUDS PASSAGE OF PENSION REFORM PACKAGE
League Executive Director Bill Dressel issued the following statement today on the Assembly’s approval and Governor’s signing into law S-2/A-2461, S-3/A-2460 and S-4/A-2459
“Yesterday, the Assembly and the Governor took the needed first steps to provide property tax relief to our citizens. This necessary reform is the first, but important step, to providing a more equitable system for both enrollees and taxpayers. The League commends Assembly Speaker Oliver, Senate President Sweeney and the Governor for expeditiously moving this necessary reform forward, and we thank the long list of sponsors on both sides of the aisle.”
The League of Municipalities strongly supports the bipartisan employee pension and health benefits reform package. As noted in the State Commission of Investigation Report: The Beat Goes On: Waste and Abuse in Local Government Employee Compensation and Benefits, the League has been on the forefront of benefit and pension reform for some time.
In his written testimony to Assembly Appropriations Committee Executive Director William Dressel encouraged the Legislature to go even further. Mr. Dressel stated that “the final legislation should ensure consistent benefits provisions in ALL pension systems – PERS (Public Employees Retirement System), TPAF (Teachers Pension Annuity Fund) and PFRS (Police & Fire Retirement System). For example, in A-2461 the pension calculation has been changed to the highest 5 years for PERS and TPAF and 3 highest years for PFRS. PFRS is the most expensive pension system in New Jersey. In order to curb pension cost and have true reform we must address the most expensive portion of the municipality’s pension bill.”
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For more information, please contact Bill Dressel, Executive Director at (609) 695-3481, ext. 122, via cell at (609) 915-9072 or at firstname.lastname@example.org.