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3 pension funds sue Christie over contributions

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3 pension funds sue Christie over contributions

DECEMBER 10, 2014, 9:14 AM    LAST UPDATED: WEDNESDAY, DECEMBER 10, 2014, 4:36 PM
BY GEOFF MULVIHILL
ASSOCIATED PRESS

New Jersey’s three largest pension funds for public workers sued Gov. Chris Christie on Wednesday over his decision to cut contributions earlier this year.

The lawsuit was filed in state chancery court on behalf of the Public Employees Retirement System, Police and Fire Retirement System and the Teachers’ Pension and Annuity Fund. Unions representing public workers previously sued over the contributions cut after a surprise fiscal crunch this year.

“The unions were doing their thing on behalf of their membership,” said Tom Bruno, chairman of PERS. “Our thing is a little different. Ours is a matter of trusteeship.”

The funds also represent nonunion public workers. Bruno says the three members of the PERS board who represent Christie’s administration abstained from the vote on whether to sue and the state attorney general’s office recused itself from the issue.

One key accomplishment of Christie’s first term as governor was an agreement to catch up funding for pension funds. For decades, governors had skimped on or skipped pension payments. As part of the agreement, retired public employees saw their cost-of-living increases suspended and current employees had to increase their retirement contributions.

https://www.northjersey.com/news/3-pension-funds-sue-christie-over-contributions-1.1149667

6 thoughts on “3 pension funds sue Christie over contributions

  1. Contributing to healthcare benefits, since 2011! The unions are just upset because Christie’s not giving them “enhancements” like Gov. Whitman did, including larger pensions, earlier retirement, and short term cuts to contribution rates. The unions are part of the problem here, it was the AFL-CIO that agreed to Whitman’s pension bonds in the first place IN EXCHANGE for those enhancements! But now the unions cry foul when Christie has to make budget choices for the greater good of all NJ residents, not just public sector pensions.

  2. Yawn, there he is again #1 the broken record who makes $300,000.00 + an annual bonus complaining about what others have, get a life loser.

  3. How about a unique proposition?
    Since the pensions are EARNED in NJ, and paid for by NJ TAXPAYERS, you will still pay NJ income taxes on the earnings when you bail out and move to NC in your retirement years.
    Since your overly generous pensions and benefits are pushing the state to financial ruin, its only ‘fair’ to contribute to the trough that you are feeding from.

  4. How about this idea #3?

    Since your salary and 401k is EARNED in NJ, and paid for by NJ & NY RESIDENTS, you will still pay NJ income taxes on the earnings when you bail out and move south in your retirement years. No you will not.

    Since your overly generous pay and bonuses are stealing money from the residents you supposedly serve in the north, its only ‘fair’ that you must continue to live in NJ and pay taxes to contribute to the residents that you are feeding from!!


  5. Anonymous:

    How about this idea #3?
    Since your salary and 401k is EARNED in NJ, and paid for by NJ & NY RESIDENTS, you will still pay NJ income taxes on the earnings when you bail out and move south in your retirement years. No you will not.
    Since your overly generous pay and bonuses are stealing money from the residents you supposedly serve in the north, its only ‘fair’ that you must continue to live in NJ and pay taxes to contribute to the residents that you are feeding from!!

    I think your post is misdirected.
    Me, #3=private citizen, never earned a dime from the state.
    My business is overseas, can be operated from anywhere and gains nothing from me sleeping in NJ., I’m just an overtaxed NJ life long resident.

  6. Ok Charlie, so if your business is overseas then there is no reason for you to stay in NJ and complain. If I was making $300,000.00 a year I wouldn’t be complaining about the taxes I had to pay in N.J. but apparently you have an axe to grind against government workers.

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