New Jersey S116 reduces state aid to municipalities and school districts by the amount of accumulated absences paid to employees upon retirement.
New Jersey S116 mandates that state aid to municipalities and school districts be reduced by the amount paid to employees for accumulated absences upon retirement. Municipalities must report these payments annually to the Director of the Division of Local Government Services, who forwards the information to the State Treasurer. The State Treasurer then reduces the financial assistance provided to municipalities from various aid programs by the reported amount.
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