Pension payment for FY12 in FY11 budget divides Assembly committee

TRENTON – Assembly Budget Committee Republicans all voted against the Democratic budget bill that finalizes FY11 supplemental appropriations because, according to minority Budget Officer Declan O’Scanlon (R-12), of Little Silver, it doesn’t make the state’s FY12 pension payment in FY11, as is Gov. Chris Christie’s preference.

The bill, A4201, passed along party lines. “This moves the pension payment to FY12,” majority Budget Officer Lou Greenwald (D-6), of Voorhees, said. He said federal matching grants could be in jeopardy. “(We) run the risk of losing us additional money,” Greenwald said

Christie said if the legislature passed pension reform – which they did last week – that he would make the state pension payment for next fiscal year in this fiscal year, which ends Thursday, June 30.

Pension payment for FY12 in FY11 budget divides Assembly committee