New Jersey's 26th Legislative District

Senator Joe Pennacchio

Senator Joe Pennacchio

Statement of Senator Joe Pennacchio on the Pension and Health Benefits Reform Bill Vote

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Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee and a Prime-Sponsor of the pension and health care benefits reform measure, issued the following statement regarding the Senate passage of S-2739.

“Every one acknowledges that the State Pension system is in serious financial trouble. In fact, in 2005 then Governor Codey ordered a study on the viability of the state’s pension system by a task force headed by Philip Murphy. The commission recommended sweeping and fundamental changes to the state’s pension system. We did nothing.

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Senator Joe Pennacchio

Pennacchio Statement on Rescue of Pension and Health Benefits System

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Measure Will Save Property Taxpayers More Than $100 Billion

Senator Joe Pennacchio, a member of the Senate Budget and Appropriations Committee, issued the following statement regarding the compromise reached on pension and health benefits reform by the Legislature and the Governor. Senator Pennacchio will be a Co-Prime sponsor of the legislation, S-2397.

“The pension and health benefits reform agreement reached today will save the taxpayers of New Jersey more than $100 billion. This tax relief will help middle-class families preserve the high quality of life in New Jersey.

“It is clear to everyone that the current pension and health benefits package is unsustainable. Public employees were made promises that were unsustainable, that the state could never keep.

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