New Jersey Division of Investment, Trenton, faces a combined $2...

New Jersey Division of Investment, Trenton, faces a combined $2 billion-plus gap in funding its public pension funds in fiscal years 2003 and 2004, state officials said. The hole will have to be plugged through contributions to the $67 billion fund by state and local municipalities, said Tom Vincz, state treasury department spokesman. Declining state revenues and a four-year contribution holiday are to blame, Mr. Vincz said. In fiscal year 2003, the state will have to contribute $569 million to the state pension fund, including money to cover post-retirement medical expenses. In fiscal year 2004, the state’s contribution will jump to $1.4 billion, Mr. Vincz said. Figures for future municipal contributions were not immediately available.