Sweeney Proposal Would Help Secure New Jersey Pensions
ID 121763076 © Katgphoto | Dreamstime.com

Commentary

Sweeney Proposal Would Help Secure New Jersey Pensions

Despite criticism from some unions, the reform proposal would ensure that retirement promises made to public workers are kept.

New Jersey Senate President Stephen Sweeney recently presented his plan to improve the solvency of the state’s public pension systems. Judging by town halls on this proposal, the overarching response of union members to this plan has been, “Don’t touch our pensions!” However, Sweeney’s reform would actually increase the retirement security of public workers and improve the state’s finances without touching the pensions of those who are already vested in their plan.

Evgenia (Jen) Sidorova is a policy analyst with Reason Foundation's Pension Integrity Project.

Zachary Christensen is a policy analyst for Reason Foundation's Pension Integrity Project.