This evening, the New Jersey State Senate and Assembly approved a balanced budget plan for FY2015 which includes full funding for public employee pensions in accordance with actuarial recommendations. Charles Wowkanech, President of the New Jersey State AFL-CIO, released the following statement:
"The New Jersey State AFL-CIO applauds the State Senate and Assembly for passing a balanced budget and urges the Governor to approve this plan, which follows the law and fully funds the pension system. Not only is this the financially responsible decision for our state, but by restoring stability to the pension system we will be better poised to grow our state economy, create jobs, invest in our future, and ensure that current and future generations of workers can retire with dignity."
"We commend Senate President Stephen Sweeney and Assembly Speaker Vincent Prieto for leading efforts in their chambers to tackle this extremely challenging budget with an unwavering commitment to fairness and an honest view of our state’s finances."