I think I have this right.
My intrerpretation of the NJ Supreme Court's decision basically allows all three branches of the Federal or State government immunity from forcing any
of the other branches the legal justification to backstop any elected official from doing what they were elected to do. What happened to "The Buck
This is like juggling several games off three card monte, while trying to thwart a 3D game of Monkey-n-The Middle concerning WE (the people['s]) civil
rights enumerated in THE U.S. CONSTITUTION.
If we can't get "honest/trustworthy" canidates on the tickets due to the narrow options of a fixed game Two party system, or effectively pressure
those currently in office (without the use of gun) to IMMEDIATELY affect a equitable resolution, the Courts convieniently abstain from duty (and thus
quilt), and the President/Governor gets to be an "active" referee. How does the MADNESS stop!?!
I guess ANYONE who is counting on ANY type of pension had better just come to the conclusion that 20 cents on the U.S. Dollar is better than nothing
The court handed a victory to the likely presidential contender just weeks before he is expected to officially launch his campaign. In a 5-2 ruling,
the court found that there wasn’t an enforceable contract to require Christie and the legislature to come up with the full payment for the current
“This is not an occasion for us to act on the other branches’ behalf,” the court said, adding that it is the people’s responsibility to hold
the elective branches of government responsible for their exercise of powers.
Tuesday’s order lets Christie’s administration off the hook from coming up with the additional payments, but the pension gap will continue to
plague the state and restrain spending. New Jersey’s pension system is currently $80 billion in the red. Even after a state judge found in February
that Christie is obligated to fulfill his payments promise, heproposed further cuts to the pension system. A state bond sale disclosure last year
reported that the state’s unfunded liability had increased by almost $30 billion since 2011 and projected that six of New Jersey’s seven pension
funds will go broke by 2027. The state’s fiscal situation has led to eight credit downgrades during Christie’s tenure.
The retirees whose pensions are at stake are mostly blue-collar workers, including mechanics, truckers and construction workers, who participate in
what are known as multi-employer pension plans.
The plans were designed to allow workers flexibility to switch companies with ease, guaranteeing them a stable retirement in fields where they were
likely to move frequently between employers.
Retirees in all 50 states are affected, although the biggest of the pension plans in danger of collapse is the Teamsters-affiliated Central States
Pension Fund, which has some 410,000 participants in the Midwest and South. The average pension for Central States members is $15,000 per year.
The deficit in the PBGC's insurance program for single-employer plans fell to $19.3 billion, down from $27.4 billion in fiscal 2013. But that decline
was more than offset by a huge rise in the deficit in the agency's insurance program covering multiemployer plans, which jumped to $42.4 billion, up
from $8.3 billion in fiscal 2013.
“The program's increased deficit is largely due to the fact that several additional large multiemployer plans are expected to become insolvent
within the next decade,” the PBGC said in statement.
The PBGC did not identify the names of the multiemployer plans that it expects to fail in the coming years. But in congressional testimony last year,
the executive director of one huge plan — the Central States, Southeast and Southwest Areas Pension Fund in Chicago, which in 2013 had $17 billion
in unfunded benefits — said the plan was headed toward insolvency.
reply to: squittles
edit on 9-6-2015 by fshrrex because: (no reason given)