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Pension fund trustees seek billions in damages from state

1280px Battle of Trenton by Charles McBarron

By Samantha Marcus | NJ Advance Media for NJ.com
on July 26, 2015 at 6:00 PM, updated July 27, 2015 at 8:24 AM

TRENTON — In the latest salvo in the battle between New Jersey and its public workers, the heads of the state’s largest pension funds are accusing the state of breaching its contract by underfunding government workers’ pensions.

The pension heads are seeking billions of dollars in damages.

The pension fund trustees’ newly amended complaint opens a new front in the fight for pension funding in which Gov. Chris Christie had already declared victory following a state Supreme Court ruling last month that the state couldn’t be forced to make the payments into the retirement system promised under a 2011 pension law.

That ruling has so far spared the state from having to scrape together billions of additional dollars in pension contributions.

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