Feb 23 (Reuters) – A New Jersey court struck down Governor Chris Christie’s plan to cut contributions to its public pension system on Monday, ruling in favor of teachers, firefighters and police who had sued the governor and state.
Christie proposed the cuts last May to try to plug a $2.7 billion state revenue shortfall projected through fiscal 2015. However, the Superior Court of New Jersey in Mercer County ruled against the plan, which was to cut $1.6 billion in pension contributions for this fiscal year.
“The court cannot allow the State to ‘simply walk away from its financial obligations,’ especially when those obligations were the State’s own creation,” the court said.
(Reporting By Jonathan Stempel; Editing by Christian Plumb)
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