As reported by nj.com, the credit rating agency Fitch has lowered New Jersey’s general bonds, citing unfunded pension and employee benefit liabilities. The agency wrote that making an increased pension payment, which Governor Chris Christie has said he will do, will “conflict with other long term challenges, such as property tax relief, school funding,
Standard & Poor's
NJ Waits for IRS Review of Public Worker Pension Funds
By Donald C. Barbati on
Posted in Uncategorized
Pension Gap Drops NJ’s Bond Ratings
By Donald C. Barbati on
Posted in Public Employment Labor Law
As reported by app.com, New Jersey’s credit rating was downgraded by a major Wall Street rating agency, whose concerns over state debt and obligations for public retirees’ benefits now mean higher costs for the state to borrow money. Standard & Poor’s moved New Jersey’s bond rating down a notch to its fourth highest …