New Jersey's Senate president is warning that government retirees could see a two-thirds reduction in their pensions in less than 10 years unless lawmakers can fix a $54 billion deficit in the retirement system.
New Jersey Gov. Chris Christie chastised an Essex County executive for collecting a pension while continuing to draw a paycheck from the same six-figure job, but the governor stopped short of calling on his political ally to quit taking retirement benefits or return the money.