The bill was opposed by public sector unions due to measures that would raise the retirement age, increase employee contributions to pension and healthcare plans and reduce the state’s burden by potentially tens of billions of dollars.
Republican Gov. Chris Christie said pension reform will save New Jersey taxpayers more than $120 billion over the next 30 years and that reform of the state health benefits system will save another $3.1 billion over the next 10 years.
The New Jersey Senate passed the measure earlier this week, and the state Assembly approved the measure late Thursday. Gov. Chris Christie is expected to sign the bill into law as early as Friday.
Read the Business Insurance report on health insurance.
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