Yesterday, I received an email from one of our readers, Ed Mecka, from Hoboken, New Jersey, who turned me on to an article regarding the pension crisis that is taking place in Memphis, Tennessee. The crisis in Memphis has caught the national media’s attention, and an article was printed in the Wall Street Journal a
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Christie Taking Pension Appeal To Appellate Division
As reported by NJ.com, Governor Chris Christie’s administration has filed a formal notice that it will appeal a Court ruling that it broke the law by slashing this year’s payment into New Jersey’s public worker pension system. A State Superior Court Judge sided with public unions who sued Governor Christie to force him to…
Senator Sweeney Calls Christie’s Labor Negotiations Tactics into Question
As reported on the website, the New Jersey Politicker, Senator Sweeney recently questioned the labor negotiating tactics of New Jersey Governor Chris Christie. Sweeney went on the record stating “When you hear [Governor Chris Christie] focusing on pension reforms and benefit costs, it got the attention of a lot of people nationally. But the reality…
NJ Trooper Unions Sue Christie Over Shortchanged Pension Payment In Proposed Budget
As reported by NJ.com, a group of unions representing New Jersey State Troopers are the first to sue Governor Chris Christie to force him to make a larger payment to the State’s public-worker pension system in his latest state budget proposal. Christie’s proposed budget, which covers the fiscal year that begins in July, includes a…
Police and Fire Benevolent Associations File Lawsuits To Mandate Funding
As reported by Politckernj.com, in the aftermath of Governor Chris Christie’s budget address, the leaders of the State’s Police and Fire Benevolent Associations announced their decision to file separate lawsuits aimed at making the Governor comply with the full funding of the public pensions. Below, reprinted in its entirety, is a statement of explanation the…
NJ League of Municipalities Warns that Christie’s Proposed Pension Reform Could Disenfranchise Workers and Trigger a Mass Exodus of Local Employees
As reported in NJ.Com, the New Jersey League of Municipalities stopped short of taking an official position on Gov. Chris Christie’s proposed pension reforms but stated the proposed changes could disenfranchise workers and trigger a mass exodus of local workers. Executive Director Bill Dressel shared the league’s concerns in a letter to the governor…
Moody’s Downgrades New Jersey’s Credit Rating as a Result of Christie’s Illegal Pension Blunder
As reported in NJ.Com, Judge Jacobson’s ruling this week that public worker pension contributions are contractually protected will constrict the state’s ability to balance its budget in the future, Moody’s, a Wall Street rating agency, said today. The flexibility of the state’s pension payment has been “a tool essential” to balancing the budget, Moody’s Investors…
NJ Unions Deride Christie Pension Fix As ‘Deceptive,’ Say It ‘Punishes’ Healthy Funds
As reported by NJ.com, just hours after Governor Chris Christie claimed he’d reached an “unprecedented accord with the New Jersey Education Association” that would “solve our long-term problems with the pension and health benefit systems,” the criticism poured in, from the NJLEA, from other union leaders and even a former New Jersey governor. NJLEA…
Christie Pension Commission Recommends Plan For Fewer Benefits
As reported by NJ.com, Governor Chris Christie’s high-powered pension commission has proposed a sweeping plan that would save the State billions in retirement and health care costs while reducing benefits for hundreds of thousands of public workers. The commissi0n says New Jersey needs to drastically change its pension and health plans. Christie’s budget address…
Judge Rules Christie Broke Law By Cutting Pension Payments
As reported by NJ.com, in a significant blow to Governor Chris Christie, a judge ruled today that the Governor broke a law he signed by cutting $1.57 billion from a pension payment this year, and must now work with state lawmakers to restore the money. The decision could blow a massive hole in the…