TRENTON – Senator Nicholas Scutari, D-Middlesex, Somerset and Union and co-chair of the Joint Legislative Committee on Employee Benefits Reform made the following statement today following the Committee’s first meeting:
“I’m going to be blunt with the public – our pensions and benefits system in New Jersey is broken. Costs are soaring out of control and our liabilities are skyrocketing. This committee is going to have to work hard and think creatively to rein in the system.
“Ultimately, our goal over the next few months must be to develop realistic means of regaining long term financial stability in the pension fund. There is no aspect of the system that will not face intense scrutiny by this committee. We must achieve an equitable balance that honors the commitments we have made to public employees and retirees, while reducing the long term burden on New Jersey taxpayers.”