States Skimp on Pension Payments
"State governments from New Jersey to California that are struggling to close budget deficits are skipping or deferring payments to already underfunded public-employee pension plans.
The moves could help ease today's budget pressures, but will make tomorrow's worse.
New Jersey's governor, a fiscal conservative, has proposed not making the state's entire $3 billion contribution to its pension funds because of the state's $11 billion budget deficit."
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