HACKENSACK -- The city had to borrow nearly $5 million to cover unused sick and vacation days for employees who are retiring this year. A wave of public employees decided to cash in on their benefits before Gov. Chris Christie caps payouts at $15,000. The cap is part of Christie's plan to curtail the nation's highest property taxes. Hackensack...
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Gov. Chris ChristieHACKENSACK -- The city had to borrow nearly $5 million to cover unused sick and vacation days for employees who are retiring this year.
A wave of public employees decided to cash in on their benefits before Gov. Chris Christie caps payouts at $15,000. The cap is part of Christie's plan to curtail the nation's highest property taxes.
Hackensack can't afford to make payments from its operating budget to the 33 public employees who have either retired or submitted notices that they plan to retire this year.
City records show one police captain accumulated more than $300,000 worth of time. Nine employees will receive more than $200,000.
NorthJersey.com: Retiring workers breaking the bank
Previous coverage:
• With Gov. Chris Christie targeting benefits, some N.J. public workers consider retirement
