New Jersey promise of financing health care to retired public workers took a huge blow yesterday when a shortfall of $58 billion was announced. The announcement prompted reactions of shock and dismay among labor officials who fear the plan may get buried amidst budget-tightening across the state. An independent actuary stated the money needed for the plan could be covered if a retiree health fund were created soon.
See "Health coverage for New Jersey public retirees in jeopardy", Mary Williams Walsh, The New York Times, July 26, 2007