A fiscally conservative think-tank is warning that New York's public employee pension costs are headed for fiscal disaster. The Empire Center for New York Policy, which is funded largely by private industry, says the cost for taxpayers will skyroc Read More
While Gov.-elect Andrew Cuomo has said he wants to cap property-tax increases at 2% a year, some local officials in New York state are seeking to boost rates before he even gets to Albany—in part to keep up with the rising cost of government worker Read More
Taxpayer-funded contributions to the pension systems for New York’s public employees could balloon by billions of dollars over the next five years, diverting scarce resources in tough times, a fiscally conservative think tank said in a report Tuesd Read More
New York state’s $132.8 billion pension plan is underfunded by $71 billion and annual taxpayer payments to keep it sound may more than double to almost $4 billion during the next five years, a report says. Increased payments are needed by the th Read More
Republicans take control of the state Senate bearing a gift for incoming Gov. Andrew Cuomo: an easy button. Capitol insiders say GOPers share many of Democrat Cuomo's priorities, especially his call to reduce state spending without raising taxes. Read More
A report by the Empire Centre for New York State Policy said over the next five years, tax-funded annual contributions to the New York State Teachers' Retirement System (NYSTRS) will more than quadruple, rising from about $900m to $4.5bn, while contr Read More
A think tank projects that taxpayer-funded contributions to the pension systems for New York's public employees could balloon by billions over the next five years, diverting scarce resources. The fiscally conservative Empire Center for Public Poli Read More
New York's pension system is a ticking time bomb ready to explode, a report warned Tuesday. State and city taxpayers face billions of dollars in added pension payments over the next few years because of the Wall Street meltdown and the generous be Read More