New Jersey Gov. Jon Corzine today recommended the state contribute $1.5 billion to its pension plans in fiscal 2007. "It is with great reluctance that I am proposing we fund only 70% of the current pension obligation. That equates to almost $1.5 billion in real spending on pensions," Mr. Corzine said in his budget speech before state legislators in Trenton. "This is an increase of $1.1 billion over last year - and more cash to pension contributions from the general fund than in the last nine years added together." The state's pension funds have a combined $70 billion in assets.