Christie to Propose Pension Fix in Budget Address

New Jersey Gov. Chris Christie says he will offer a compromise that will fund the state's ailing pension fund  in his annual budget address.

The announcement comes a day after a judge ruled that Christie violated the law by slashing this year's state pension contribution. To comply with the order, Christie and lawmakers would have to find nearly $1.6 billion in funding in the next four months. The Christie administration has vowed to appeal the decision.

The Republican and potential 2016 presidential candidate is scheduled to give his budget address today.

Christie will announce that the New Jersey Education Association has agreed to a "road map" for fixing the pension system, though not to any specifics. He'll ask the Democrat-controlled Legislature to join him on this front. The state's largest teachers union says it is open to compromise, but also urges the governor to pay the state's full share into the pension fund as ordered by the court.