Several of New Jersey's unions filed suit yesterday to stop one of Gov. Jim Florio's major budget-balancing maneuvers -- a pension reevalution that generated $770 million for the fiscal 1993 budget.
In a lawsuit filed with the Mercer County Superior Court, the unions, led by the AFL-CIO, asked the court to refund the pension money the Florio administration took this year to balance the budget.
The money was freed up as a result of a switch the Florio administration made this year in the accounting method used to value pension assets. The move was criticized by rating agency officials as a one-shot.