The full extent of the continuing rise in school spending since the recession was not inevitable or unavoidable.
Voters in 2014 approved a Cuomo-pushed $2 billion bond act designed to help local school districts purchase needed new technology. But to date, not a dime has been spent on the effort.
A recent report from the Empire Center shows the average New York state teacher who retired after working 30 years for the state's public schools collected an average of $67,476 per year in pension income, which is not subject to state income tax or federal payroll tax. These pension recipients are also eligible for Social Security and often have free or low- cost health insurance.
Pension payments to 78,523 New York City public school and City University of New York retirees were added today to SeeThroughNY, the Empire Center's transparency website.
Teachers, principals, superintendents and other public school employees in the Capital Region who retired last year with at least 30 years of service earned an average pension of $60,466, according to new data from the Empire Center.
Pensions averaged $67,476 for teachers and other professionals who retired in 2014-15 after working at least 30 years in New York State public schools, according to data posted today on SeeThroughNY, the Empire Center’s transparency website.
State Comptroller Thomas DiNapoli has officially confirmed what federal inflation statistics were already telegraphing: New York's statutory cap on local school property tax levies will be just a hair above zero for 2016-17 school year budgets, which will be submitted for voter approval in May.
The state's Teachers Retirement System said its rate of return was 5.2 percent for last fiscal year and will lower its expected rate of return from 8 percent to 7.5 percent a year.