State workers rally for pension protection in TrentonPosted: Updated:
(06/19/06) TRENTON ? State workers from all over New Jersey descended on the Statehouse Monday to support Governor Jon Corzine?s (D-NJ) version of the budget.
Union employees of the state want Corzine to leave his current version of their pension plan alone. Despite a budget crisis, Corzine has proposed giving the workers 70 percent of their pensions. Although it?s not 100 percent, many workers say they?re satisfied with the current incarnation of the governor?s budget.
However, some leaders say too much money is being invested in the pension plans. State Senator Steve Sweeney (D) says pension cuts for future workers could save the state $700 million. A final state budget is expected July 1. Corzine plans on paying for the pensions by raising New Jersey?s sales tax by a penny on the dollar.