As reported by nj.com, for the second year in a row, public employees across New Jersey are retiring at a record rate, state figures show. Nearly 15,000 public workers are expected to retire from January through the end of July, a slight increase from the same period last year, when a record number of
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U.S. State Pensions Face Overhaul in Bad Economy
By Donald Barbati on
Posted in Retiree Benefits
Recently, Karen Pierog and Jim Christie published an article addressing state pension overhauls during these tough economic times. Specifically, the article examines how Illinois, California, and other states have instituted reforms to combat increasing and debilitating unfunded pension liabilities.
According to the article, the National Association of State Retirement Administrators found a nearly $443 billion …
Retired Cops Oppose Change in Terms of Benefits
By Donald Barbati on
Posted in Retiree Benefits
An association of retired cops has warned Hamilton Township to not tamper with their retirement package. The association alleges it would be illegal to change the terms of their benefits “in the middle of the stream.” The Mercer County Local 12 of the Retired Police and Firemen’s Association sent the warning to the Hamilton …
Court Permits Suit Alleging Violations of Collective Bargaining Agreement to Continue
By Donald Barbati on
Posted in Contract Interpretation
On May 28, 2009, the Honorable Peter A. Buchsbaum, J.S.C. decided Mark Petersen v. Township of Raritan, Docket No. HNT-L-446-08. The complaint alleged contractual violations of the 1997-1999 collective bargaining agreement between the Township of Raritan and the Plaintiff.
Plaintiff was police officer who retired in 1999. The 1997-99 collective bargaining agreement included …