TRENTON – New Jersey’s treasurer says paying $1.6 billion into the public pension fund as a judge recently called for is difficult without more budget cuts.
Andrew Sidamon-Eristoff told the Assembly’s Budget Committee on Monday that making the payment would be disruptive for the state in the final three months of the current fiscal year.
The response came after questioning from Democratic Assemblyman Troy Singleton, who asked the treasurer to explain Gov. Chris Christie’s contingency plan to make the payment.
The questioning came on the same day the Legislature unveiled budget projections, which on balance align with the governor’s.
In February a judge ruled Christie and lawmakers must make a $1.6 billion payment to the pension fund.