By Mark Lagerkvist / September 14, 2015 /New Jersey Watchdog.org
Guard your wallets, New Jersey taxpayers! The deficit in state pension and health benefit plans for public employees is fast approaching $200 billion.
The unfunded liabilities have reached a staggering $194.5 billion, according to a New Jersey Watchdog analysis of State Treasury records. The shortfall has increased by $19 billion – or roughly 10 percent – in the past year.
Here’s a breakdown of bad news that seems certain to result in higher taxes, decreased retiree benefits or both:
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