Wednesday, 25 July 2007

New Jersey, Municipalities Face Retiree Health-Care Bill of $68.9 Billion

(Bloomberg) -- New Jersey and its local communities
owe an estimated $68.9 billion in promised health-care benefits
for current and future retirees, according to a report to be
released tomorrow.

Jim Marketti, president of Communications Workers of
America Local 1032 in Trenton, said the figure was disclosed at
a briefing by state officials for union leaders on July 23. The
state hired Aon Corp. to calculate how much it may cost to pay
the benefits.


Read more at Bloomberg Bonds News

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