Retirements Cost NJ Town Nearly $723K

STAFFORD TOWNSHIP, N.J. (AP) — One southern New Jersey town has had to pay out nearly $723,000 to 14 employees who decided to retire.

Most of the money went to Stafford Township police officers who decided to end their careers.

The figures represent unused sick, vacation and compensatory time accumulated during an employee’s tenure.

Township officials told the Asbury Park Press $126,000 is tied to an incentive that allowed workers who retired before the end of the year to receive their 2011 allotment of sick and vacation time.

Matthew Weng of the New Jersey State League of Municipalities says proposed changes to the cap unused sick and vacation time might be driving public employees to consider retirement.

The state says at least 16,400 public employees have retired as of Sept. 1.

(Copyright 2010 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • Roy

    This is almost criminal,but then again,who was the genius who made the retirement offer,and who are the geniuses that signed contracts allowing this financial debockle

  • Peter

    More do nothing as soon as possible city employee types. Get the equivalent of a very nice salary to do nothing. The large amounts are set into the system by those above them who will do the same thing. Hook or crook to get that money, just like the Bernie Madooffs and other lawyers and thieving Wall Street types. During the financial disaster, the top hedge fund manager made over $4 billion, just for himself.

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