Gov. Christie signs law requiring state to make pension payments

Republican Gov. Chris Christie has signed legislation requiring New Jersey to make quarterly payments to its debt-laden pension.



Christie signed the bill Thursday after it passed the Democrat-led legislature unanimously on Nov. 21.



Supporters of the bill say quarterly pension payments could lead to returns of up to $200 million because of the early investment.



Currently the state's payment, which has been increasing yearly under an agreement between Christie and lawmakers, is paid once a year. The escalating payments stem from years of underpayments from both Democratic and Republican administrations.



The roughly $70 billion fund supports about 800,000 workers and retirees.


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