TRENTON — Gov. Chris Christie is set to sign what he calls his biggest legislative accomplishment today. The employee benefits bill requires more than 500,000 teachers, police and other public workers to pay part of their health care premiums based on their incomes. Their pension contributions also will also rise. The state's retirement systems are underfunded by $110 billion....
TRENTON — Gov. Chris Christie is set to sign what he calls his biggest legislative accomplishment today.
The employee benefits bill requires more than 500,000 teachers, police and other public workers to pay part of their health care premiums based on their incomes. Their pension contributions also will also rise.
The state's retirement systems are underfunded by $110 billion.
Christie says higher contributions are needed to guarantee future pensions.
The governor predicts that New Jersey's fix will be hailed as a national model.
Public worker unions say the pension system is in the red primarily because the state has skipped its annual payment for years.
The new law requires the state to phase in its contribution.
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