Source: New Jersey Star-Ledger | New Jersey |
April 30, 2012
A Star-Ledger analysis of sick and vacation time records for lawmakers and other public employees show that politicians can reap generous rewards from the same system they are charged with policing. The payouts also take sizable chunks out of local budgets that are already under duress.
Thousands of public employees across New York State rushed to sign up for pensions over the last several weeks, seeking to lock in generous retirement benefits before cuts approved by the State Legislature took effect on Sunday.
The nation's largest public pension fund lowered its forecast Wednesday for investment returns and asked the state of California, school districts and local governments to increase contributions — a move that could siphon more money from basic services.
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