Mayor Fried Announces Significant Savings from Gov. Christie’s Pension Reform
ROBBINSVILLE – (October 12, 2011) – Robbinsville Township is one of several New Jersey municipalities set to reap the benefits of historic bipartisan pension reform signed into law by Governor Chris Christie June 28.
With total expected savings for New Jersey property taxpayers and local governments of $267 million in fiscal year 2012, the calculated savings for Robbinsville is $190,884.
Most of the benefit ($172,662) to Robbinsville comes via the Police and Fire Retirement Systems (PFRS), along with an additional savings estimate of $18,222 in the Public Employee Retirement System (PERS).
“Thanks to the forward thinking measures implemented by Governor Christie regarding pension reform, Robbinsville is now even better positioned to weather the current economic downturn that has burdened many of our residents,'' Robbinsville Mayor David Fried said. "The $190,884 in savings will ease some of the strain on our municipality, and we look forward to using those funds in a practical and fiscally responsible manner going forward.''
The state’s savings estimate for fiscal year 2012 from those respective funds are $224 million from PFRS and $43 million from PERS, for a total savings of $267 million across municipalities, school districts and counties. The statewide, year over year savings experienced by local governments between fiscal year 2011 and fiscal year 2012 is approximately $84 million.
“Because we took action, New Jersey taxpayers are now seeing that real results will ease strained local budgets and bring costs under control at the local level,’’ Gov. Christie said. “These savings are critical to getting our economy moving again and creating jobs, while also protecting the core local government services New Jerseyans expect and deserve.”