The Teamsters pension board is in talks to form a new board with a group of local firefighters to protect their pensions from being cut by the state, a New Jersey pension board member said on Tuesday.
In an interview with NJ Advance Media, a member of the board, Kristin Sommers, said the board would work with the state Pension Exclusions Authority, which has been considering the idea since last fall.
The board has been trying to come to a deal since last year, she said.
“The board is not at all opposed to a merger.
It’s just that we want to get it done as quickly as possible, which is the priority,” Sommer said.
The New Jersey Department of Labor has asked the state’s pension board to meet with the authority and discuss how to help firefighters and other state workers who are eligible for benefits under the New Jersey Pension Protection Act.
The state has said it is in negotiations with the pension board over how to keep benefits affordable for retirees and the general public.
The pension board’s board meeting is scheduled for Wednesday at the state capitol in Trenton.
A spokesman for the New York City-based state pension board did not immediately respond to a request for comment.
The New Jersey Retirement Association did not respond to an email seeking comment.