N.J. public-employee unions challenging Christie on pension contribution back in court Thursday The public-employee unions suing to overturn Governor Christie’s decision to reduce state contributions to the pension system are scheduled to square off with attorneys for the state Thursday for the latest round of arguments in the ongoing case. The hearing at 10 a.m. in Superior Court in Trenton centers on a planned $2.25 billion contribution into the system that Christie reduced to $681 million in an effort to balance the current state budget. If Judge Mary Jacobson rules against the Christie administration and orders the larger payment to be made, it could force the governor and lawmakers to come up with more than $1.5 billion in revenue midway through the state fiscal year or make new cuts. The pension system is worth $80 billion and covers roughly 770,000 current and retired employees. But for years, governors, including Christie, have skipped or made only partial contributions into the system, leaving it funded at only 33 percent. Unions that represent teachers, firefighters, state police and other public employees are arguing that a state law signed by Christie in 2011, which overhauled the pension system, also included a contractual obligation that the larger payment would be made. Hetty Rosenstein, state director of the [...] newsinnj/n-j-public-employee-unions-challenging-christie-on-pension-contribution-back-in-court-thursday/
Posted on: Thu, 15 Jan 2015 03:15:35 +0000