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Speaker: Pension suit won’t delay budget adoption

Local News | Jun 18, 2014

Speaker: Pension suit won’t delay budget adoption

TRENTON, N.J. (AP) — The leader of the New Jersey Assembly says uncertainty over the outcome of a pension payment lawsuit won’t prevent the Legislature from adopting a new budget by June 30.

Assembly Speaker Vincent Prieto says the lawsuit by public worker unions over this year’s pension payment won’t directly affect adoption of a budget for the fiscal year that starts July 1.

However, if a judge rules that Gov. Chris Christie must make the roughly $900 million pension payment he plans to skip, the decision could throw a wrench into state finances for both years.

Prieto says the governor and Legislature agreed to fully fund the pension system but need to figure out how to do that.

Christie has vetoed previous bills raising taxes.