Coming Up Short

You knew this would happen. Fewer people than expected took New Jersey's state worker buyout proposal, which means that the savings from having fewer employees is less than anticipated. In fact, it was less than half of those qualified, and 75% of those who were projected to accept the deal:

A preliminary count by the Division of Pension and Benefits indicates 1,500 state employees will accept retirement incentives approved last month along with the fiscal 2009 budget, state Treasurer David Rousseau said in a letter sent to legislators on Tuesday.

A final tally of all retirements that go into effect this Friday will be released on Aug. 15, he said.

State officials originally estimated more than 3,800 employees were qualified to accept the incentives. They projected more than 2,000 would accept them for a total savings of $90 million.