Christie proposes additional pension payment of $212 million
TRENTON, N.J. (AP) -- Gov. Chris Christie's administration is expecting about $200 million more than expected in revenue for the current fiscal year.
Treasurer Andrew Sidamon-Eristoff proposed Tuesday the $212 million windfall be paid into public pensions.
Christie reduced the pension payment in 2014 under budget constraints, despite a 2011 law that called for higher funding. Unions sued, and a lower court ruled Christie and lawmakers must make a $1.6 billion payment this fiscal year.
Christie appealed. The case is pending before the state' highest court.
Office of Legislative Services budget and finance officer David Rosen said it's just about impossible for New Jersey to make that payment, if the state Supreme Court rules that way.