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Public Pension System Sweetened Again

July 18, 2006

State lawmakers this year passed at least 36 measures that would expand pension benefits for groups of public workers, according to a new analysis released by the Empire Center for New York State Policy. The 2006 crop of pension sweeteners -- approved against a backdrop of skyrocketing pension expenses for every level of government across New York -- carries a total cost of at least $189 million. That price tag, which includes $84 million in one-time costs and $105 million in recurring annual costs, comes on top of at least $64 million in additional state and local pension obligations resulting from benefit increases signed into law by Governor Pataki in 2005.

The complete FiscalWatch memo can be found here.