The New Jersey Supreme Court ruled a 2011 pension reform law suspending cost-of-living adjustments for retirees was constitutional. Public employee unions had challenged the COLA freeze, arguing it deserved the same protections as regular pensions. New Jersey’s $70.9 billion Pension Fund is fiscally challenged and has been a huge bone of contention between labor and Governor Chris Christie. Read more: http://www.pionline.com/article/20160609/ONLINE/160609864/new-jersey-supreme-court-rules-cola-suspension-is-constitutional
