CHRISTIE PLAN TO ROLL PENSION SYSTEM IS VERY EXPENSIVE

A new report on Tuesday suggests that any plan by Governor Chris Christie to roll the state’s broke pension plan into a 401K would cost the state about $42 billion. The report says the state plan is similar in size to the one in Pennsylvania, and a cost analysis was done in the Keystone State to see how much a shift in the pension burden would cost.  New Jersey’s pension system currently has a $37 billion unfunded liability.