State comptroller Tom DiNapoli takes to the Daily News op-ed page today to assert the following:
Critics of the current defined-benefit retirement plans for state workers incorrectly assert that New York State’s pension system is financially sound only because of an unlimited amount of taxpayer money.
The truth is that the system is financially sound because New York has prudently managed its fund for more than 90 years.
Good. Then why not remove the taxpayer guarantee of the state pension fund, and just have public workers and employers contribute a fixed amount into a fund run by New York’s superstar pension-fund managers?
You may also like
The Attorney General’s MFCU SNAFU
Attorney General Letitia James' latest fight with the Trump administration focuses on New York's Medicaid Fraud Control Unit, a federally funded agency housed in James' office.
On T Read More
Healthcare Revelations in the Enacted Budget Financial Plan
The state financial plan published on June 10 disclosed key information about healthcare revenue and spending that lawmakers had not made public when approving the annual budget two weeks before.
Read More
Federal Suit Traces Medicaid Fraud to the Top of NYS Government
The Trump administration's latest salvo against Medicaid fraud takes aim at a different kind of target – two high-ranking New York officials along with a major state contractor.
A Read More
It Is Time to Rethink the Regional Greenhouse Gas Initiative
Before budget negotiations, Gov. Hochul warned that unless New York changes its climate plans, New Yorkers could face a $2.26-per-gallon increase in gasoline prices. The reason is the so-called “cap-and-invest” scheme, under which energy companies wou Read More
Healthcare Highlights in the New State Budget
Governor Hochul's focus on affordability seems to have skipped over the healthcare portions of the new state budget.
The deal finalized May 27 Read More
Lawmakers Consider Hiking Fees for Filling Prescriptions
UPDATE: The proposal discussed below passed the Assembly Friday evening by an unofficial vote of 133-0. Having previously been approved by the Senate, the bill will head to Governor Hochul's desk for her signature or ve Read More
Lack of Common Sense on Energy in the Budget
Lack of Common Sense on Energy in the Budget
Anyone hoping the governor would make even modest, common-sense changes to New York’s disastrous energy policies will be disappointed. The energy portion of the budget is out, and the nons Read More
Budget Deal Reportedly Earmarks $100M for 1199 and Extends MCO Tax
As Governor Hochul and legislative leaders rush to finalize the overdue state budget, outlines of some healthcare-related deals have begun to emerge from the closed-door negotiations.
Read More