By Christian Hetrick • 06/28/17 4:03pm
New Jersey’s next governor and Legislature must make cuts to retiree health care costs and raise several taxes to diffuse the “fiscal time bomb” created by inadequate payments to the public worker retirement system, according to a new policy report released Wednesday.
The report, “New Jersey’s Prosperity Depends on Immediate Fiscal Reforms,” was produced by The Fund for New Jersey and is aimed to shape the debate during this election year, with the governor’s office and all 120 seats in the Legislature open. The report largely focuses on the huge gap between what the state sets aside each year for pensions and retiree health care and what those obligations actually cost.
https://observer.com/2017/06/report-solving-nj-pension-crisis-requires-tax-hikes-benefit-cuts/