NJ lawmakers pave way for budget

TRENTON The deal reached tonight clears the way for agreement on a $32.8 billion budget plan.

Senate President Richard Codey says he expects the Legislature to approve the budget Monday, a full week before the state's July 1 constitutional budget deadline.

Senate Majority Leader Stephen Sweeney and Senate Budget Chairwoman Barbara Buono say the agreement, reached after closed door meetings with Assembly Democrats, will:

Raise the retirement age from 60 to 62.

Require someone to earn $7,500 per year to receive a taxpayer

funded pension.

Eliminate Lincoln's Birthday as a state worker holiday.

Allow the state to offer incentives to workers not to take taxpayer

paid health insurance.