TRENTON, N.J. (AP) – Lawmakers in New Jersey want to end golden parachutes for school, government and public safety workers.
A Senate panel Monday advanced a bill to limit the amount of sick and vacation time workers can cash out at retirement.
The bill limits unused sick leave payouts to $15,000 and vacation carry over to one year.
Employees who have amassed more time under existing contracts would be allowed to keep what they’ve accumulated. The bill would bar them from accumulating more.
A similar ban was previously signed into law for state workers.
Taxpayers have balked at making large payouts to retiring school officials, police officers and other workers.
For example, a Hackensack police chief suspended after being charged with insurance fraud in April is due more than $53,000 in unused sick time.
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