Jersey City Pension Reforms Signed Into Law

Law360, New York (January 22, 2014, 5:14 PM EST) -- New Jersey Gov. Chris Christie signed legislation Tuesday that increases the retirement age, lowers cost-of-living adjustments and makes other reforms to Jersey City, N.J.'s municipal pension system to help the town save up to $20 million.

The governor's action seals eligibility and benefit changes that had stirred up political drama between Jersey City Mayor Steven Fulop and Senate President Steve Sweeney, D-Gloucester, two possible gubernatorial rivals in 2017. Despite the dustup over the bill's fate, the state Senate Budget and Appropriations Committee approved an amended version...
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