Just in time for Wall Street’s latest bout of bearish volatility, state Comptroller Thomas DiNapoli is taking an important step to fortify New York’s largest pension fund. Too bad he also passed up a golden opportunity to go further in the right direction. Read More
Tag: Thomas P. DiNapoli
Most of New York’s local governments will pay less for their employees’ retirement benefits next year, despite the state pension fund anticipating a lower return rate on its investments. Read More
Just in time for Wall Street’s latest bout of bearish volatility, state Comptroller Thomas DiNapoli is taking an important step to fortify New York’s largest pension fund. Read More
Before area taxpayers and their counterparts statewide get too excited over the looming lower property tax hike for next year, they need to be mindful of the other side of the coin. Read More
The state’s pension fund for 1 million current public workers and retirees may lower its estimated rate of return, a move that could increase the cost on local governments. Read More
The starting point for computing next year's local property tax cap in most of New York State will be less than 1 percent—and so state Comptroller Thomas DiNapoli is warning local governments "brace for ... [lower] growth in property tax revenues." DiNapoli's tone clearly implies that a lower tax cap is a negative. But most property owners will no doubt see it another way. Read More
New York State's largest public pension fund earned 7.16 percent — short of its 7.5 percent target — during the fiscal year ending March 31, state Comptroller Thomas DiNapoli announced today. The $183.5 billion Common Retirement Fund, of which DiNapoli is sole trustee, had previously announced a first-quarter gain of 3.8 percent, a second-quarter loss of 0.52 percent and a third-quarter gain of 1.91 percent. Read More
New York State's economic development agency spent more than $200 million to advertise its programs without attempting to measure whether the ads produced results, according to an audit by state Comptroller Tom DiNapoli. Read More