Senate Dems reach accord on pension bill

TRENTON – Senate Democrats said Friday that the Jersey City pension bill now will be posted for Monday with changes.

Senate President Steve Sweeney, Assembly Speaker-elect Vincent Prieto, Senator Sandra Cunningham and Senator Brian Stack issued a joint statement today regarding an amendment to S-3096/A-4536, which will bring the Jersey City pension system into alignment with the state system:

“We are proud to announce an agreement on important amendments to the Jersey City pension bill which will bring this legislation further in line with the state pension system and ensure that the savings from COLA go back into the pension system. 

“This will not only protect the hard working men and women of Jersey City, but will guarantee that the savings are used solely to improve the solvency of the pension system.  Our collective goal remains doing what is best for Jersey City and this amended legislation does just that.”

The amended bill, which could be voted on in Monday’s sessions, would provide that the money that would be saved would be channeled right back into funding the pension system.

Early this week, Jersey City Mayor Steve Fulop took a shot at Sweeney over not posting the bill since it already had passed in the Assembly.

Sweeney and Fulop are seen as gubernatorial rivals down the road.

Fulop could not be reached Friday afternoon for comment.

Senate Dems reach accord on pension bill