>State Pensions to strain revenues for state
New Jersey’s new pension reform will save state and local governments millions of dollars now, and billions of dollars over the ensuing decades.
But then there is the hard part: actually paying the pension contributions for nearly 800,000 state government employees and retirees.
Although New Jersey will have to pay less than it would have without the changes, state revenues still must grow by at least 3 percent a year simply to cover the added costs for increasing payments, a Gannett State Bureau analysis shows. (Method, Gannett)
