Plan to link lottery revenue to pensions goes to lawmakers
Posted: Updated:A plan to link revenue from the New Jersey State Lottery to the pension fund is heading to state lawmakers.
Gov. Chris Christie has for months promoted the idea of handing control of the state lottery's assets to the pension funds as a way to guarantee cash flows into the funds and to reduce unfunded liabilities.
A bipartisan bill to make the change was introduced in the state Legislature this week, about two weeks before lawmakers are required to pass the budget for the upcoming budget year.
Gov. Christie's administration has said it will generate an average of more than $1 billion each year for the pension funds.
One municipal bond analyst says she's not sure how much the move would boost the pension funds' health.
The Associated Press wire services contributed to this report.
PoliticsMore>>
Sen. Menendez expresses concern over Pompeo secretary of state nomination
Sen. Menendez expresses concern over Pompeo secretary of state nomination
U.S. Sen. Bob Menendez says that he is concerned about the nomination of Mike Pompeo for secretary of state.
U.S. Sen. Bob Menendez says that he is concerned about the nomination of Mike Pompeo for secretary of state.
Gov. Murphy marks 100 days by outlining progressive agenda
Gov. Murphy marks 100 days by outlining progressive agenda
Gov. Phil Murphy says "big" and "exciting" changes are underway in his state as his new Democratic administration marks 100 days in office.
Gov. Phil Murphy says "big" and "exciting" changes are underway in his state as his new Democratic administration marks 100 days in office.
Judge rules against ending program to protect Dreamers
Judge rules against ending program to protect Dreamers
A federal judge ruled Tuesday against the Trump administration's decision to end a program protecting some young immigrants from deportation.
A federal judge ruled Tuesday against the Trump administration's decision to end a program protecting some young immigrants from deportation.
Report: Former Gov. Christie spends $85K on portrait
Report: Former Gov. Christie spends $85K on portrait
Former New Jersey Gov. Chris Christie's official portrait will cost $85,000, which is more than taxpayers shelled out for paintings of his three predecessors combined.
Former New Jersey Gov. Chris Christie's official portrait will cost $85,000, which is more than taxpayers shelled out for paintings of his three predecessors combined.
6 candidates vie for chance to be Paterson’s new mayor
6 candidates vie for chance to be Paterson’s new mayor
Six candidates are vying for the chance to be Paterson’s newest mayor.
Six candidates are vying for the chance to be Paterson’s newest mayor.
Montclair woman sends postcards to Trump, Washington players
Montclair woman sends postcards to Trump, Washington players
An Essex County woman says that she is staying politically active by sending postcards to President Donald Trump and other political players in Washington.
An Essex County woman says that she is staying politically active by sending postcards to President Donald Trump and other political players in Washington.
Trump: Paul Ryan leaves 'legacy of achievement'
The Latest: Trump: Paul Ryan leaves 'legacy of achievement'
A spokesman for Republican House Speaker Paul Ryan says he will serve out his term before retiring in January.
A spokesman for Republican House Speaker Paul Ryan says he will serve out his term before retiring in January.
Trump says missiles 'will be coming' to Syria
Trump says missiles 'will be coming' to Syria
After Russia warned the United States against military strikes in Syria, President Donald Trump says missiles "will be coming."
After Russia warned the United States against military strikes in Syria, President Donald Trump says missiles "will be coming."
President Trump furious after FBI seizes documents from his lawyer
President Trump furious after FBI seizes documents from his lawyer
U.S. President Donald Trump speaks at a campaign rally at Atlantic Aviation in Moon Township, Pa., Saturday, March 10, 2018.
Federal agents carrying court-authorized search warrants have seized documents from President Donald Trump's personal attorney Michael Cohen.
Federal agents carrying court-authorized search warrants have seized documents from President Donald Trump's personal attorney Michael Cohen.
Chinese tariffs could impact NJ soybean crop
Chinese tariffs could impact NJ soybean crop
A crop grown in New Jersey could now be in the crosshairs of a possible trade war.
A crop grown in New Jersey could now be in the crosshairs of a possible trade war.
Top StoriesNew Jersey Top StoriesMore>>
Seaside Heights mayor recommends tabling ordiance to allow dogs on boardwalk
Seaside Heights mayor recommends tabling ordiance to allow dogs on boardwalk
The mayor's office presented the plan to possibly allow leashed dogs onto the boardwalk, but Mayor Anthony Vaz has now recommended tabling the ordinance.
The mayor's office presented the plan to possibly allow leashed dogs onto the boardwalk, but Mayor Anthony Vaz has now recommended tabling the ordinance.
News
Forecast: Sun and clouds, highs in upper-60s Thursday
Forecast: Sun and clouds, highs in upper-60s Thursday
Rain on Wednesday has given way to a humid, warm and sunny Thursday.
Rain on Wednesday has given way to a humid, warm and sunny Thursday.
Union pretzel shop puts a special twist on foods
Union pretzel shop puts a special twist on foods
Le Bon Pretzels opened last summer and in a short amount of time, has revolutionized their product with the pizza pretzel, along with toppings of choice.
Le Bon Pretzels opened last summer and in a short amount of time, has revolutionized their product with the pizza pretzel, along with toppings of choice.
Business Briefs: Facebook, Ford, Snapchat
Business Briefs: Facebook, Ford, Snapchat
Facebook reported its first quarterly earnings since the Cambridge Analytica data scandal. Ford is slimming down its inventory. Snapchat users should get ready for more ads.
Facebook reported its first quarterly earnings since the Cambridge Analytica data scandal. Ford is slimming down its inventory. Snapchat users should get ready for more ads.
Facebook reported its first quarterly earnings since the Cambridge Analytica data scandal. Ford is slimming down its inventory. Snapchat users should get ready for more ads.
Edison woman to run across US for cancer fund
Edison woman to run across US for cancer fund
A college student from Edison is spending her summer by running across the country.
A college student from Edison is spending her summer by running across the country.
Jersey Buzz: April 26, 2018
Jersey Buzz: April 26, 2018
Jersey Buzz: April 26, 2018
Jersey Buzz: April 26, 2018
Nutley bridge to undergo summer construction
Nutley bridge to undergo summer construction
Essex County Executive Joe DiVincenzo announced that construction on the Centre Street Bridge will begin this summer.
Essex County Executive Joe DiVincenzo announced that construction on the Centre Street Bridge will begin this summer.
Fair Lawn police arrest serial burglar caught on video
Fair Lawn police arrest serial burglar caught on video
Fair Lawn police have arrested a serial burglar thanks to a homeowner's video surveillance system.
Fair Lawn police have arrested a serial burglar thanks to a homeowner's video surveillance system.
Newark releases video for Amazon HQ pitch
Newark releases video for Amazon HQ pitch
The city posted a three-minute video is hopes of building its case to bring Amazon's second headquarters there.
The city posted a three-minute video is hopes of building its case to bring Amazon's second headquarters there.
Gov. Murphy joins nationwide anti-gun violence missions
Gov. Murphy joins nationwide anti-gun violence missions
A group that includes New Jersey Gov. Phil Murphy is joining a mission to reduce gun violence.
A group that includes New Jersey Gov. Phil Murphy is joining a mission to reduce gun violence.