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Bramnick Warns of Budget Risk as Pension Funding Bill Advances

Trenton_New_Jersey

 

After a bill to constitutionally mandate that the state make quarterly public pension payments advanced in committee Monday, Republican lawmakers and business groups are calling for the legislature to reject the plan in favor of cuts and reform. The bill, which cleared the Assembly Judiciary committee today, would require half-payments toward the state’s $83 billion pension shortfall starting in 2017, then full payments in 2021. JT Aregood, PolitickerNJ Read more

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N.J. lawmakers clash over plan for public-sector pensions

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Senate President Stephen Sweeney

Senate President Stephen Sweeney defended his proposal to constitutionally mandate billions of dollars in public-sector pension contributions on Friday from a Republican budget officer who argued that without union concessions New Jersey would go bust. Samantha Marcus, NJ.com Read more