Newark City Council will vote on Thursday to approve an
amendment to city employee pension plans that would increase the amount they have to contribute to their retirement benefits package.
If approved, new city employees would contribute 3.468 percent of their salaries to their pension plan, according to the staff report prepared for the meeting. Fire fighters and police officers, considered local safety members, would contribute 1.5 percent, according to the text of the ordinance.
The text of the amendment says that the changes apply to new employees. If approved, the changes will go into effect on February 1, 2014.
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