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Pension not only cuts in Christie’s budget plan

Local News | May 22, 2014

Pension not only cuts in Christie’s budget plan

TRENTON, N.J. (AP) — Gov. Chris Christie’s plan to bridge a budget gap over the next 13 months relies heavily on slashing pension contributions, but that is not the only measure.

State Treasurer Andrew Sidamon-Eristoff told lawmakers on Wednesday that the state is also cutting $15 million this year in its subsidy for New Jersey Transit and skipping a $13 million one-time payment to community providers of services to people with developmental disabilities.

Members of the Assembly’s budget committee questioned the legality and morality of making those cuts.

Christie announced Tuesday a plan to reduce the state’s contributions to the pension funds for public workers by about $2.5 billion between now and June 30, 2015.

The Communication Workers of America says it intends to file a lawsuit to try to block the pension cuts.