New Jersey’s state public employee retirement system has received $39 million as part of a federal health insurance overhaul. The state reportedly plans to seek an additional $40 million.
As the Associated Press and NJ.com report, businesses and public entities can apply for the money as part of last year’s health care law that encourages insurance for early retirees. The fund was set up to reimburse employers and labor unit benefit funds for some of the costs of providing health insurance for retirees who are too young for Medicare.
The money comes from the health care overhaul N.J. Gov. Chris Christie has criticized.