NJ Judge Rules in Favor of Christie's Pension Plan (after cutting taxes on the rich)

http://www.wnyc.org/story/nj-judge-rules-favor-christies-pension-plan/?utm_source=Newsletter%3A+WNYC+Daily+Newsletter&utm_campaign=cb10ba5b8d-Daily_Brief_Jan_27_20141_26_2014&utm_medium=email&utm_term=0_edd6b58c0d-cb10ba5b8d-68917289&mc_cid=cb10ba5b8d&mc_e


Wednesday, June 25, 2014
By Joseph Capriglione : Associate Producer, WNYC News/New Jersey Public Radio / Jessica Gould



Governor Chris Christie (Natalie Fertig/WNYC)

A New Jersey judge has ruled that Gov. Chris Christie can follow through with his plan to reduce the state's contributions to public workers' pension funds.

Christie says that cutting the payments that are due by nearly $900 million this year and by more than $1.5 billion next year is the only clear option for balancing the state budget after a surprise revenue shortfall.

And while Superior Court Judge Mary Jacobson said protecting pensions is crucial, and workers do have a right to the payments, she said the last-minute gap left the governor with "painfully few" options.

"He was between a rock and a hard place, in my view," she said, adding that her ruling only applies to this year's cuts, not next year's. The current fiscal year ends June 30th.

FULL story at link.