New Jersey’s public pensions and benefit are very expensive … for taxpayers

Regina Egea of the Garden State Initiative published an eye-opening op-ed in the Star-Ledger today.  Highlighting a study by the former chief economist for the state, the report concludes that “our cost of benefits for public sector employers is 50 percent higher than the public sector in other states.”  The costs of benefits are also 85% higher than the private sector, and contrary to oft-stated claims that benefits must be high because public workers are paid less, the study found that public workers are actually paid more than private-sector workers.

Understand that when New Jersey public sector employers are paying 50% more than other states, it means that you, the taxpayer, are paying 50% more.  This goes a long way to explaining why New Jersey has such high and uncompetitive taxes.

Read the full Star-Ledger op-ed here.