As reported bynj.com, a public worker union local plans to take New Jersey to court over missed pension payments. The Communications Workers of America Local 1033 told the Associated Press it will file suit in U.S. District Court today.
The union wants the court to find the state’s continued failure to make required annual pension payments a violation of workers’ and retirees’ rights. Past litigation on pension funding has failed.
The union has been adamant in its opposition to the proposed legislation that would allow the state to phase in pension payments over seven years and institute a pending freeze on cost-of-living pension increases for retirees. The teachers union says the measure would have a crippling effect on retirees. It says retirement benefits will lose value every year without cost-of-living adjustments.