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“The accrued financial benefits of each pension plan and retirement system of the state and its political subdivisions shall be a contractual obligation thereof which shall not be diminished or impaired thereby.”

If that is the basis for her decision then I support it 100%. I worked almost 35 years for my private sector employer with a guarantee that I would receive X dollars when I retire. I planned my retirement future on that guarantee. If my company were to file bankruptsy and try to terminate or reduce my guaranteed pension, that would financially destroy me. I would hope this judge were in my corner...........

I feel your pain, but the essence of bankruptcy is that someone, and maybe a lot of someones, with a legal entitlement to payment are not gonna get paid, because there ain't nothin' there with which to pay. Reality bites.

If my company were to file bankruptcy and try to terminate or reduce my guaranteed pension, that would financially destroy me. I would hope this judge were in my corner...........

I hesitate to criticize further than this...
Your company, indeed, ALL private companies, are required by Federal law to fund retirement pay as you go, no exceptions under penalty of huge fines and jail time.
Municipalities and counties and all "public service" agencies have no such obligation demanded by law.

Absurd, ignorant, ridiculous and incorrect comparison!

I don't expect public elected officials, past and present, will be subject to heavy fines and serious jail time.

I worked almost 35 years for my private sector employer with a guarantee that I would receive X dollars when I retire. I planned my retirement future on that guarantee. If my company were to file bankruptsy and try to terminate or reduce my guaranteed pension, that would financially destroy me.

That's over-concentration. Any CFA worth his salt will tell you it's a bad idea.

You'd be in better shape if your employer's pension contributions had instead been paid to you, and you had used them to purchase a diversified portfolio of investments.

“If my company were to file bankruptcy and try to terminate or reduce my guaranteed pension, that would financially destroy me.”

And what makes you think that you are so special? I too had my retirement set up ( no pensions for me, I had to provide for my own retirement by my own means) and I was starting to draw on my investments in retirement. Life was good, and it was easy to see that we would have enough to see us to the end of our lives. Then 2007 came along and we watched 30% of what we had invested evaporate!. And at the same time saw earnings on what was left drop precipitously. So buddy, as far as I am concerned, if you loose your retirement, it’s just tough $h!t! If it happens, be a big boy and figure out how you are going to survive, that’s what we have had to do.