On Friday lawyers for the three largest New Jersey Pension funds (PERS, TPAF, and PFRS) filed a motion for leave to file a second amended complaint on August 21, 2015 in Burgos v. Christie which included a copy of the amended complaint they intend to file.
I will have something to say about this filing (which included some significant misstatements of fact) in the next blog but, for now, some notable excerpts:
An honest well-phrased question that got Chris Christie going off half-cocked again:
The headlines focused on the bullying aspect but there was more video where that ‘one fact’ came out:
Mary Williams Walsh just reported that:
A judge in Chicago ruled on Friday that a plan to change city workers’ pensions was unconstitutional in a case being closely watched for its effect on the city’s uncertain finances.
The ruling, by Judge Rita M. Novak of the Cook County Circuit Court, is viewed as a setback to Mayor Rahm Emanuel’s efforts to rein in costs and rescue the city’s credit rating. Officials in the mayor’s office said the city would appeal.
“While we are disappointed by the trial court’s ruling, we have always recognized that this matter will ultimately be resolved by the Illinois Supreme Court,” said Chicago’s corporation counsel, Stephen Patton, in a statement. “We now look forward to having our arguments heard there.”
Last year, the city negotiated labor agreements to strengthen two of its pension plans, those for laborers and general municipal workers. The agreements called for reducing the cost-of-living increases that retirees receive each year, increasing workers’ mandatory contributions to the funds and strengthening the city’s pledge to step up its own contributions. In the past, the state Legislature has told Chicago what to contribute, and it has set the required amounts well below the actual cost of the pensions, putting the system into serious jeopardy.
Of the 31 unions whose members were to be affected by the changes, 28 had approved it. But the others sued.
How similar is this to the situation in New Jersey where we have seen:
Though it might not be through Bridgegate first.
Yesterday Christie announced a National Finance Leadership Team for his 2016 Presidential Campaign. Let’s see how you get on that list.
It is difficult to believe anyone reading this blog would still support Chris Christie after watching the youtubes below from his latest town hall meeting in Myrtle Beach, SC. If you were inclined toward Christie because you…
- oppose the power of public sector unions there is Walker;
- want to hear what is supposed to be straight talk there is Trump;
- are part of the Bush-donor machine there is a Bush; or
- are a public employee (enough said).
Now for the rest of you. Do you like your jobs?