![](https://njac.org/wp-content/uploads/2015/01/statehouse-150x150.jpg)
January 12, 2018
Caps on Binding Interest Arbitration Awards
Despite the fact that the 2% cap on binding interest arbitration awards expired on December 31st, NJAC and the New Jersey State League of Municipalities (NJSLOM) are continuing to urge Governor Elect Phil Murphy and members of new State Legislature to permanently extend the cap in the wake of stern warnings from Moody’s Investors Services and Fitch Ratings about failure to reinstate the measure.
Moody’s noted “that salary costs are among the largest of municipal expenditures, the cost implications are obvious and considerable,” ...
More