NJ Court Reverses Rejection of Chris Christie's Pension Funding Cuts

Politics Reuters

New Jersey's highest court on Tuesday reversed a lower court rejection of Governor Chris Christie's cuts to state public funding.

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The ruling could bolster both Christie's presidential aspirations and the state's tight budget. The state's pension system has about $83 billion of unfunded liabilities and was funded at only about 44 percent in fiscal 2014.

(Reporting by Jon Stempel, Megan Davies and Hilary Russ in New York; Editing by Nick Zieminski)