Another win for New Jersey, taxpayers and private sector complete.
Gov. Chris Christie today signed into law controversial legislation that will force public employees to pay more for their pension and health insurance.
Christie, who signed the bill flanked by a bipartisan cast of mayors, said passage of the bill is his biggest legislative victory since taking office.
"It is important moment for the state of New Jersey, for its citizens, its taxpayers and New Jersey has once again become a model for America," Christie said at the bill signing.
Starting on Friday, public employees across all levels of government will pay an additional percent of their pay into the pension system.
Employees will begin to pay more for their health insurance when their contracts expire. For those without contracts or with contracts that have already expired, the increased payments could begin as soon as January, when new health insurance plans are expected to be completed.
The legislation will save at least $132 billion dollars over the next 30 years. Christie said the legislation will not only save the state billions, but is an assurance to government workers that they will have a pension to collect when they retire.
"This is an important moment for New Jersey, for its citizens, its taxpayers and New Jersey has once again become a model for America."