Moody’s Says NJ Still a Gamble, Despite Pension Fund Tapping Lottery Revenues

Despite a new law that funnels about $1 billion in annual New Jersey Lottery revenues directly into the state’s beleaguered public-employee pension system, a major Wall Street credit-rating agency is warning there remains “considerable risk” since the state faces still-rising pension obligations. The notice issued earlier this week by Moody’s Investors Service also noted that changes…

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