TRENTON, N.J. (AP) - New details are emerging on Republican Gov. Chris Christie’s proposal to transfer New Jersey’s lottery to the state’s underfunded pension.
Treasurer Ford Scudder told the Assembly budget committee Wednesday that the lottery’s nearly $1 billion in revenues for programs like education and human services would count toward the state’s underfunded pension under a plan Christie put forward earlier this year.
Scudder says the programs funded by the lottery could be paid for through the general fund because of savings from lower pension liabilities.
He did not provide data to explain how the change would work.
Scudder says nothing would change for customers or operations if the plan goes forward. He says the aim is to cut the state’s pension burden.
Christie proposed the idea in February but offered few details.
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