New Jersey Gov. Chris Christie may have made headlines by addressing the simmering scandal about the closing the George Washington Bridge during his State of the State Address, but his thoughts about pension reform also stirred controversy.
Christie urged pension changes to free up money that he said was needed for schools, infrastructure and other projects. Next year, the state is supposed to pay $2.4 billion into the pension system. That would add $1 billion next year to the state's bill for pension and debt service costs.
"That's nearly $1 billion we can't spend on education. That we can't invest in infrastructure improvement. That we can't use to put more cops on the street," the governor said. "That won't be available to improve access to health care."
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
