Update: The bill is now a law. Christie put pen to paper this afternoon, and NJ.com quoted him as saying the following:
“It is important moment for the state of New Jersey, for its citizens, its taxpayers and New Jersey has once again become a model for America.”
Original report: Today is a momentous one in New Jersey. Gov. Chris Christie is expected to sign legislation this afternoon to raise th benefits and pension contributions the state’s public workers must pay.
The bill will require about 500,000 public workers to pay a portion of their health care premiums based on their incomes. Pension contributions will also rise, but payment increases will be phased in.
The bill is the Christie administration’s move to help the state’s retirement systems, which are underfunded by $110 billion.