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NJ Senate Passes $300M Pension Prepayment

By Jeannie O'Sullivan ( June 25, 2015, 8:59 PM EDT) -- Efforts to restore New Jersey's retirement funding advanced Thursday with Senate approval of a tax-funded $300 million prepayment toward the state's $3. 1 billion pension obligation in 2016, along with a law requiring quarterly pension payments, although the hikes are vulnerable to Gov. Chris Christie's veto power. . . .

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