The new (old) normal of NY pensions by E.J. McMahon | NY Torch

The Empire State's largest public pension plan still has not fully recovered from the financial crisis and Great Recession of 2008-09, a new report from the state comptroller's office confirms.

DiNapoli Releases Details on What Schools, Municipalities Will Pay to Pension Fund Capital Tonight

Fiscal watchdogs note many elected officials initially didn't have to worry about pension costs a decade ago. Now the rates are closely watched for what they could mean for property tax bills.

"Pretty much the entire generation of state and local elected officials took office and came into their own during a period when pension costs were artificially low or rock bottom," said Empire Center President EJ McMahon.

More Than 3,000 NY State and Local Pensions Top $100K Press Releases

The number of retirees receiving pensions over $100,000 from the New York State and Local Retirement System (NYSLRS) exceeded 3,000 for the first time during the system’s 2016 fiscal year, according to data uploaded today to SeeThroughNY, the Empire Center’s transparency website.

Average New FDNY Pension Approaches $120,000 Press Releases

New York City firefighters and fire officers who retired during the 2016 fiscal year were eligible for average pensions of $119,863, a 6 percent increase over the previous year, according to data gleaned from 15,557 Fire Department pension records updated today on SeeThroughNY, the Empire Center’s transparency website.

NYC pension costs shooting up by E.J. McMahon | NY Torch

Taxpayer-funded pension contributions in New York City will need to increase by a total of $732 million between fiscal years 2018 and 2020 due to the pension funds' paltry investment earnings in the recently concluded 2016 fiscal year, City Comptroller Scott Stringer has just disclosed.

Desperate measures only add to NY’s pension perils by E.J. McMahon | New York Post

During the first few years after Wall Street prices bottomed out in 2009, public-pension funds across the country reaped double-digit returns. They were riding a bull market pumped up by ultra-low interest rates, and it wouldn’t last.

Now pension managers have been struggling to break even — the predictable outcome of a funding strategy that continues to expose taxpayers to unreasonable long-term risks.