NJ Pensiongate with Gov. Christie
 

NJ Gov. Chris Christie under fire for cutting pension payments to state workers

""The governor said he will slash two large payments to the state’s $2.43 billion pension system as a means to cover unexpected revenue shortfalls in his budget, reports The Star Ledger. New Jersey has been battling a budget gap of more than $800 million and a number of credit downgrades since Christie took office in 2010. In an attempt to save some money, Christie will now cut pension payments by $700 million starting in July; active employees will receive payments but those who have retired will not."

http://finance.yahoo.com/blogs/daily...145453844.html