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The dubious pension "amortization" that was the subject was defeated on the floor of the state Senate in the early hours of this morning.   Senate sources say the vote was 34-28, with four five Read More

It seems likely the will take up and re-pass all the bills approved during its legally questionable June 30 "session," perhaps as soon as this evening.  While the governor and others have described the bills awaiting Senate action for the past month Read More

Wall Street may have one last party, and it could come at the expense of its hometown and home state getting their houses in order. New York could better get on with life if President Obama and Congress would figure out how they're going to approac Read More

Today’s New York Times that state and local government tax-funded pension contributions in New York may triple over the next five years should come as no surprise to anyone who has made an effort to understand the current system and its p Read More

California is printing up $3.2 billion worth of "IOUs" to send to vendors and to people expecting cash payments from the state, including taxpayers due rebates for overpayment. Is this legal? Read More

Via the redoubtable , recently released Census data on state and local public pension systems show that, compared to national averages, New York government employees directly contribute a much smaller share of their own retirement costs. And that's Read More

The short list of "critical, non-controversial" measures Governor Paterson has sent the deadlocked state Senate for possible action tonight includes a bill authorizing Nassau County to issue bonds to finance early retirement incentives for county emp Read More

In 2008, the state Metropolitan Transportation Authority employed 539 police officers who were paid an average of $96,553, including overtime and shift differentials.    A salary database of all 78,393 MTA employees during 2008 -- searchable by na Read More

As part of the February stimulus package, Washington offered new inducement for municipalities to issue taxable bonds. The program may have the effect of pushing up tax rates for the wealthy. Read More