New York, NY —

New Jersey state legislators looking for ways to cut property taxes were told by state officials that thousands of public employees are boosting their pensions by holding as many as 11 different jobs simultaneously. WNYC's Bob Hennelly has more.

It gives a whole new meaning to the term “double dipping.” State Pension Director Fred Beaver told the legislative panel that 5,OOO public employees were gaming the state's pension plan by working multiple part time jobs and racking up retirement credits for each one.

The state system, which covers government workers at all levels, permits participants to start accruing pension credits after they make as little as 1,5OO a year. A public employee can then stay on the pension roll for decades; and if they got a full time government job 3-years shy of retirement they get to collect a pension check for the rest of their life based on the higher salary.

New Jersey's public pension plan is currently underfunded by more than $18 billion. For years administrations from both parties did not pay into the system even as benefits were expanded.