New Jersey Makes It Official: The Slashing Of Public Employee Benefits Has Begun

[stockholmer]

http://www.businessinsider.com/new-jersey-employee-benefits-bill-passed-2011-6

New Jersey lawmakers voted to pass Governor Christie's sweeping cuts in public worker benefits last night.

Despite the 8,500 protesters outside the capital building and a loud public outcry, the bill passed with a vote of 46-32.

snip

Thirty-two Democrats opposed the bill, but 14 voted for it, causing protesters in the balcony to shout, "Shame on you!"

snip

The bill effectively ends collective bargaining for medical benefits on behalf of 500,000 public workers.

Police, firefighters, teachers, and all public workers will pay more for their benefits. The new bill:

Requires current employees to give up more of their salary into the pension system.
Eliminates annual cost of living increases.
Pays a percentage of their health care premiums in a tiered system based on their salary.
Requires new employees to work longer to get full benefits.
Contractually requires the state to make payments into the health fund.
Appoints a labor-management board system to be put in place to monitor the system.
Removes up the governor's right to impose a contract and instead appoint a mediator if impasses arise.

snip

[mistertrickster]

1. Meanwhile, RepubliCONs in CONgress keep all their benefits including guaranteed pension.

Real nice.