Tags: Broken Budgets | Digging Out

NJ Paves Way on Tightening Public Worker Benefits

Saturday, 02 Jul 2011 01:27 PM

 

TRENTON, N.J. (AP) — The nation's financial downturn has forced many states to make tough decisions on expensive but long-untouchable public employee benefits.

Nowhere was the breakthrough more evident than in union-friendly New Jersey, where a Republican governor aided by Democrats enacted sweeping cost-saving changes.

Experts say the overhaul of pensions and health care benefits simultaneously was significant in scope and marked a pivotal moment for other states looking to do the same.

All 50 states have combined unfunded retiree obligations that top $1 trillion. And a recent study found that only 5 percent of states saved toward their obligations for retiree health care benefits.

Union officials say politicians have been effective at deflecting blame for years of irresponsible behavior and are using the economic downturn to portray public workers as the problem.

© Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

House Committee Slams VA for Not Releasing Health Data

Wednesday, 28 Jan 2015 22:56 PM

The Department of Veterans Affairs came under fire Wednesday for holding back information crucial to overseeing its aili . . .

Mike Huckabee: Misquote on 'Trashy Women' Was No Mistake

Wednesday, 28 Jan 2015 22:51 PM

Former Fox News host Mike Huckabee says it was no mistake when the website Politico reported that he said the women of F . . .

Senate Health Panel Leaving Out Obamacare Opponents

Wednesday, 28 Jan 2015 22:21 PM

With the Senate Health, Education, Labor and Pensions Committee (HELP) scheduled to hold hearings Thursday morning on wh . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved