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Three employees of the Hudson River-Black River Regulating District were laid off in May, only to be rehired in June, so they could take advantage of the state's early retirement program. In addition, the district's board offered retirement incentives to... Read More

It's official: after a decade in which the New York State pension fund's annual return on assets averaged less than half its target rate, the fund will need to jack up its taxpayer-funded contribution rates next year, Comptroller Thomas DiNapoli announced today. Read More

In 2008, Barrett was paid a total of $1,500 to speak at two separate events in West Virginia, the money coming from federal grants. He was paid a total of $2,850 by the Schenectady school system for four appearances, while also collecting... Read More

Last month, the state-run MTA said that it might raise the price of a 30-day subway and bus pass from today's $89 to $104 -- a pretty hefty 17 percent increase. That's still the case in the MTA's latest on-line literature about fare hearings, too. Read More

New York's state comptroller reportedly is going to reduce the state pension fund's discount rate from 8 percent to between 7.5 percent and 7.75 percent, Bloomberg News just reported. The lower the discount rate, the higher the required tax-funded... Read More

New York's state budget gap for 2011-12 -- the first year of the next gubernatorial administration -- is now projected at nearly $8.2 billion, according to the 2010-11 Enacted Budget Report released today by Governor Paterson's Division of the Budget (DOB). Read More

It's not clear whether the Japanese scandal was caused by pension fraud, faulty government bookkeeping or "disintegrating family ties," reports the New York Times. Read More

The Financial Times reports today (log-in required) that Wall Street banks "are bracing for a slump in trading profits." As we said a few weeks ago, second-quarter profits for banks like Goldman weren't great. July wasn't much better, even slower than... Read More

Just when it looked like New York's free-spending public schools were finally about to meaningfully tighten their belts, news came from Washington yesterday that the U.S. Senate had cleared the way for another $26 billion dose of "stimulus"... Read More

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The Empire Center is an independent, non-partisan, non-profit think tank located in Albany, New York. Our mission is to make New York a better place to live and work by promoting public policy reforms grounded in free-market principles, personal responsibility, and the ideals of effective and accountable government.

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