Christie wants to link lottery to pensions
New Jersey’s Governor has backed a legislation that would link lottery to pensions for public employees.
US.- Chris Christie, the governor of New Jersey, is allegedly on board with the idea of linking the lottery to pensions. The legislation that was introduced this week proposes that the lottery would be property of the pension system for 30 years.
Lisa Washburn, managing director at Municipal Market Analytics, a firm that specialises government bonds, said that the deal provides tremendous optically relief. “The numbers look better on a whole lot of levels. Whether or not they’re truly better is questionable,” she said. As the Associated Press revealed, the deal would seemingly provide the state a stable source of income to deal with pension contributions.
The income would cover a fifth part of what the state needs, approximately US$5 billion annually. The lottery revenue currently helps with other social causes like help to pay for state’s universities. The current value of the lottery is assessed by Christie’s administration at US$13.5 billion.
