Following up on a campaign promise, Gov. Andrew Cuomo is saying he will freeze the salaries of state government workers for a year. Is this a big deal? No. I explain why in this post at the Manhattan Institute's new website, www.PublicSectorInc.org. Read More
The looming state budget gap, which could easily exceed $10 billion, is the most obvious and immediate challenge facing Gov. Andrew Cuomo. Read More
Defenders of public employee pension systems often make the case that pension benefits are not all that generous. The outrageous cases you see on the news — Long Island police retiring in their 40s with pensions in excess of base pay, administrators “retiring” with six-figure pensions and then going back to work with another government agency, one ex-FDNY firefighter running marathons on his $86,000 “disability” pension — are the exceptions, they say. Read More
New York State's leading organization of municipal officials today a temporary statewide freeze on public-sector wages, reform of the state's pension system and other significant changes to public-sector labor laws as essential steps to help loc Read More
In November 2003, the Manhattan Institute for Policy Research issued a report describing New York state’s public-pension system as “a ticking fiscal time bomb. Read More
Taxpayer-funded employer contributions to public pensions in New York State will rise by billions of dollars in the next few years, threatening to divert scarce resources from other essential public services in the midst of a fiscal crisis, according to a new report from the Empire Center for Public Policy. Read More
Taxpayer-funded employer contributions to public pensions in New York State will rise by billions of dollars in the next few years, threatening to divert scarce resources from other essential public services in the midst of a fiscal crisis, according to a report issued today by the Empire Center for Public Policy. Read More
Public pension costs in New York are mushrooming—just when taxpayers can least afford it. Over the next five years, tax-funded annual contributions to the New York State Teachers’ Retirement System (NYSTRS) will more than quadruple, while contributions to the New York State and Local Retirement System (NYSLRS) will more than double, according to estimates presented in this report. Read More