City governments throughout New York “are stressed and have to work hard to keep their fiscal houses in order,” says a new report from the office of state Comptroller Thomas DiNapoli.
The New York State and Local Retirement System (NYSLRS) closed its most recent fiscal year with a return of just 5.96 percent — well below the 7.5 percent target rate used to discount its long-term liabilities.
There was virtually nothing new in Comptroller Thomas DiNapoli’s speech on public pensions in Washington, D.C., yesterday — nothing the comptroller hasn’t said before, as recently as a month ago.
New York State's 2010-11 2011-12 fiscal year appears to be off to a good start. Tax collections for the first quarter of the year were nearly $800 million above Governor Andrew Cuomo's initial budget projections, according to the June cash report posted today by state Comptroller Thomas DiNapoli.
"New York has always paid its pension bills on time," state Comptroller Thomas DiNapoli boasted yesterday, in announcing the state pension fund's 14.6 percent return on assets during the fiscal year that ended March 31. But in fact, under a 2010 law ...
Public schools in New York are awfully expensive, and their costs continue to rise at a pace that taxpayers can't afford. So how can schools cope with a needed reduction in state aid?
Governor Andrew Cuomo has a simple and blunt prescription: "less...
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.
State Comptroller Thomas DiNapoli yesterday issued a happy talk news release touting the state retirement system's 26 percent return on investments in fiscal 2009-10, which ended March 31. “The Fund remains one of the strongest in the U.S.,” DiNapoli said.