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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…

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…

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…

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…

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…

As reported on NJ.Com, The State of New Jersey argued before a State Superior Court Judge today that Governor Chris Christie cannot be forced to make full pension payments because the 2011 law committing him to fully fund the state system in exchange for union concessions was unconstitutional.

Interrupting the assistant attorney general, Superior Court…

As reported in NJ.COM, New Jersey’s unfunded public employee pension liabilities have soared to $83 billion, more than double previous estimates, as the state comes into compliance with new accounting rules, according to a report released today by Moody’s Investors Services,  a Wall Street ratings agency.

Governor Chris Christie’s administration acknowledged the change in a…

Linked below is a very interesting and powerful article published in Bloomberg Personal Finance that discusses the perils of various public employee pension systems across the United States.  Every Public Employee in the State of New Jersey should take a few minutes to review this article to educate themselves regarding "the state" of Public Employee Pension Systems across America.…