Tag: pensions

Saving and pension planning

New Jersey Supreme Court rules pension funding legislation unconstitutional. I was surprised by the New Jersey Supreme Court decision regarding the state‘s failure to make contributions to the state’s public pension plans.  Essentially the State of New Jersey made a deal in 2011 for public employees to increase their contributions and give up some of…

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Moody’s Investor Services cut Chicago’s bond rating from Baa2 to Ba1; Standard & Poor’s lowered the City’s rating from A+ to A-; and Fitch Ratings cut Chicago’s ratings from A- to BBB+.  The action-forcing event appeared to be the assumption that the recent Illinois Supreme Court decision, which ruled unconstitutional the 2013 pension changes mad…