Post by Logan on Feb 12, 2016 1:17:59 GMT -6
TRENTON - A panel appointed by Gov. Christie to study costs of retirement benefits for New Jersey's public employees warned Thursday that a legislative proposal to constitutionally mandate pension funding would likely "result in substantial, broad-based tax increases" and "draconian" cuts to services.
In a new report, the nonpartisan panel of experts instead called for various structural changes it said would save the state $2 billion in health-benefit costs annually and reduce pressure on the state's tight budget.
The report comes as Christie prepares to deliver his annual budget address to the Legislature on Tuesday.
Christie devoted most of his time over the last seven months to his presidential campaign. But after placing sixth among Republicans in New Hampshire's primary, he dropped out of the race Wednesday and returns to Trenton facing a problem he has tried to confront since he took office in 2010.
Read more: www.philly.com/philly/news/politics/20160212_Report__Pension_question_would_spike_N_J__taxes.html
In a new report, the nonpartisan panel of experts instead called for various structural changes it said would save the state $2 billion in health-benefit costs annually and reduce pressure on the state's tight budget.
The report comes as Christie prepares to deliver his annual budget address to the Legislature on Tuesday.
Christie devoted most of his time over the last seven months to his presidential campaign. But after placing sixth among Republicans in New Hampshire's primary, he dropped out of the race Wednesday and returns to Trenton facing a problem he has tried to confront since he took office in 2010.
Read more: www.philly.com/philly/news/politics/20160212_Report__Pension_question_would_spike_N_J__taxes.html