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New Jersey playing the lottery with pension plan

Tuesday, July 11, 2017   (0 Comments)
Posted by: Brian Pontious
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New Jersey playing the lottery with pension plan

http://www.njbiz.com/article/20170709/NJBIZ01/170709940/editorial-new-jersey-playing-the-lottery-with-pension-plan?utm_source=NJBIZ+Roundup&utm_medium=Email&utm_term=http%3a%2f%2fwww.njbiz.com%2farticle%2f20170709%2fNJBIZ01%2f170709940%2feditorial-new-jersey-playing-the-lottery-with-pension-plan&utm_campaign=Sunday+Roundup%3a+Gambling+with+lottery+money%2c+plus+other+opinions%2c+Reader+Rankings+and+the+most+popul

One day before the June 30 budget deadline, when all eyes were focused on the controversial Horizon Blue Cross Blue Shield of New Jersey bill, state lawmakers pulled off a remarkable sleight of hand.

Quickly and quietly, with little to no outside analysis, the Legislature approved Gov. Chris Christie’s unprecedented plan to transfer the New Jersey Lottery’s assets and revenue stream to the beleaguered state pension system, which has the largest unfunded liability in the nation.

 


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