Number of the Day: $1.1 million

August 5, 2011 | Number of The Day

A recent report by the state auditor of the Department of Treasury found that by requiring employee and retiree checks to be processed electronically, New Jersey could save $1.1 million. By eliminating printing and postage of payroll check stubs, the audit found the state could save $500,000. Another $600,00 could be saved if overtime and all retiree payroll checks were processed electronically.

Currently, employees and retirees only receive direct deposit if they opt into it. Assemblywoman Connie Wagner (D-Bergen) introduced a bill to make electronic deposits for all state public employees mandatory, but it has yet to make it out of committee.