US - New Jersey governor Jon Corzine is set to pump US$1.5bn into the state's pension system, but even that amount would fund only 70% of the obligation.
Corzine conceded during his annual budget speech this week there were insufficient funds available to fully plug the pensions whole, and told delegates the city was “pretty much broke”. Corzine ...
To continue reading this article...
Join Professional Pensions
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date
