TRENTON, N.J. — Republican Gov. Chris Christie and the state's Democrat-controlled Legislature must find $1.57 billion to put into pension funds for retired public workers, a judge ruled Monday in a decision that comes as a major legal blow to the governor as he prepares to run for president.
Unions for public workers sued Christie after he announced last year he would not make the full pension payments he had agreed to in a 2011 overhaul that was one of his main accomplishments.
Superior Court Judge Mary Jacobson's ruling could force big changes in the state budget late in the fiscal year.
"In short, the court cannot allow the State to 'simply walk away from its financial obligations,' especially when those obligations were the State's own creation," she wrote in the ruling, released a day before Christie is scheduled to make his budget proposal for the fiscal year starting July 1.
The judge didn't issue a deadline for a solution, but she was clear the state's obligation was to pay $1.57 billion more into pension funds.
The state government will appeal, the governor's office said in a combative statement.
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4 comments:
More proof that it doesn't matter which party is in power.
That fat "I know what's best for everyone" whether you like it or not, agreed to fund the plan, then as soon as he needed to, just said "ahhh, I didn't really mean it". There are NO politicians we can trust.
Also a good illustration of how bad off pensions and other liabilities are, not just in New Jersey, but everywhere.
There are only so many tricks with smoke and mirrors they can play before they just throw their hands up and say "you're on your own now --- we TOOK your money, but spent all of it. Good luck".
Soon, its coming to a town near you.
Keep cheering.
O'Malley started robbing MD State Employee pension System and no repay.
Where is the Unions in MD before it is to late. This is a pension system that was one of the most solvent until O'Malley and the Democrats started robbing it and stealing the money that is out of the pocket of State Employees who had mandatory contributions taken each pay
defined benefit pensions need to be replaced with 401k plans. THe defined benefit pension will ultimately bankrupt the state, county or city.
New Jersey taxes are already out of control. I hope they are not going up even more to fund these pensions. I don't know how anyone can afford to live there.
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