New Jersey Senate Democrats Promise Pension Reforms

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New Jersey Senate Democrats Promise Pension Reforms
BusinessWeek

Jan. 27, 2010

Excerpt: The reforms include rolling back a 9 percent pension benefit increase the Legislature enacted in 2001 and requiring part-time workers to enroll in a plan other than the state pension system. The pension system is underfunded by about $34 billion and in danger of becoming insolvent unless fixes are made. Any reforms would affect future employees, not those already in the system.

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