Christie’s proposal to contribute to the State’s Pension Fund
Governor Christie recently proposed an outline of the FY 2013 State Budget. Contained in his speech to the Legislature was a proposal for the State to make a $1.1 billion contribution to the State’s pension funds. This would be an increase of $587 million dollars from this year as called for under the requirements of the recently enacted pension and benefit reform law. The infusion of State contribution is required to enhance the health of the State side of PFRS, along with PERS, TPAF and SPRS. We will have to wait until June to see is the proposal passes.