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.
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