Codey (Dem Gov): Benefits to public employees strangling N.J. taxpayers [View All]

[Rose Siding]

TRENTON, N.J. -- New Jersey's finances are so bad off, it will take years to put the state back on solid footing, acting Gov. Richard J. Codey says.

Codey puts a lot of blame on generous pension and benefit packages for state employees and retired teachers that squeeze New Jersey's budgets. The state foots the entire cost for pensions and health insurance coverage for state employees and teachers who retire with 25 years or more service.
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In an interview with The Associated Press, Codey discussed how entitlement spending has stung the state's pocketbook, and his decision to cut property tax rebates, a cost-saving plan instantly unpopular with lawmakers who must pass a budget by July 1.

http://www.newsday.com/news/local/wire/newjersey/ny-bc-nj--statebudget-codey0320mar20,0,4689967.story?coll=ny-region-apnewjersey