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  • NJ A2843
  • Permits municipalities and counties to issue bonds to fund buy-out of accumulated leave time in order to reduce future terminal leave expenses.
Introduced
(2/16/2016)
In Committee
(2/16/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill would enable a municipality or county to borrow at low rates today to purchase accrued leave time that will be more expensive to convert to money upon the retirement of its officers and employees in the future. This is because if the compensation paid to officers or employees increases over time, then it will be more expensive to buy-out their accrued leave, which is calculated and paid at each officer or employee's final compensation rate.
Not specified
Introduced, Referred to Assembly State and Local Government Committee  (on 2/16/2016)
 
 

Date Chamber Action Description
2/16/2016 A Introduced, Referred to Assembly State and Local Government Committee
Date Motion Yea Nay Other
None specified