State comptroller Tom DiNapoli takes to the Daily News op-ed page today to assert the following:
Critics of the current defined-benefit retirement plans for state workers incorrectly assert that New York State’s pension system is financially sound only because of an unlimited amount of taxpayer money.
The truth is that the system is financially sound because New York has prudently managed its fund for more than 90 years.
Good. Then why not remove the taxpayer guarantee of the state pension fund, and just have public workers and employers contribute a fixed amount into a fund run by New York’s superstar pension-fund managers?
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