New Jersey Debt Rises to $85 Billion on Pension Obligations
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New Jersey’s total debt climbed 6.5 percent to $84.9 billion in the last fiscal year, largely because of rising obligations for pensions and retiree benefits.
Bond debt increased less than 1 percent to $41.8 billion in the year ended June 30, according to an annual debt report released on Friday. Other obligations, which mostly consist of pensions and post-employment benefits, climbed 12.6 percent to $43 billion.