Exclusive: Gov. Christie Warns NJ Pension Funds Could Go Broke
New Jersey Governor Chris Christie tells FOX Business the New Jersey pension fund will go broke if his opponents don’t come to the table and reach an agreement on reforms.
Christie said: “The way you shore up the pension fund is to make the benefits that are given to public police commensurate with the private sector and use the savings that you get from that to shore up the pension fund. We put together a proposal from a nonpartisan commission to do that and if folks want to come to the table to solve the problem we’re ready to do it.”
“If they want to continue to send out press releases then what I’ve said for five years now will happen. The pension fund will go broke and there will be no one to blame other than the people who sit and negotiate with me.”
This follows news yesterday that the State Supreme Court of N.J. sided with Christie in a legal fight with public unions over pensions, a victory that temporarily staved off a budget crisis looming in June, but still leaves many unanswered questions.
In a 5-2 ruling, the court ruled that the state could skip a huge payment to the pension fund due this month, upending a 2011 law passed at Christie's own request which mandated those very payments.