Editorial: N.J. should eliminate pensions, go with 401(k) for state workers

09/20/2010 | Wall Street Journal, The

New Jersey Gov. Chris Christie's plan to reform the state's pension system includes a rollback of a 9% increase that drew recent civil charges from the Securities and Exchange Commission, but it should also shift government workers out of pensions and into 401(k) plans, according to the Wall Street Journal. Christie, a Republican, says unfunded pension liabilities will grow to more than $180 billion over the next 30 years without reform.

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