"A bill would allow some officials retroactive access to potentially 10 years of pension payments. Guess who would be on the hook for it?
New Jersey's public pension fund is a terrible black hole of debt and unfunded obligations, a familiar story for those who follow various state pension crises. The state is $60 billion short to pay off its pension commitments and it would consume 15 percent of the state's budget each year until the year 2049 to get it back into balance.
It looks like some New Jersey lawmakers are trying to make the problem even worse and undo at least one attempt to defuse this ticking time bomb..."
Read on.
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