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

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

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)