Early Retirement

New Jersey Star Ledger - State proposes early retirement plan

A long-awaited early retirement plan for state employees finally was made public yesterday by the Corzine administration. The move did more to aggra vate than pacify a key Democratic lawmaker who fears the plan could end up costing more than it saves over the long run.

The plan would produce about $136 million in immediate budget savings, and even greater savings in future years, if officials do not refill the vacated positions. However, it also would expand long-term pension liabilities by more than $500 million.