INTERIM. Legal Trend. Pension Cost of Living Not Guaranteed. Even if Contractual.

The Court: New Jersey Supreme Court

The decision:  No contractual right to pension cost of living adjustments 

The response from Moody’s credit service ratings: ” eliminates a major threat to the state’s fiscal stability”

How can this impact other states: Federal Appellate Courts have upheld the contractual COLA payments

CNBC | New Jersey top court sides with state in high-stakes pension case