Guaranteed quarterly payments save money on interest and make sense for the state while starting to pay down the pension system unfunded liability. We need smart fiscal policies like this to rebuild the state’s credit rating. Along with the recent decision to reduce risky hedge fund allocations, this move would start to help stabilize the state’s pension system and overall economy so we call on the Governor to sign it into law.
For more information on today’s passage, see N.J. Democrats’ Quarterly Pension Payment Bills Head to Christie