Via the redoubtable Larry Littlefield, recently released Census data on state and local public pension systems show that, compared to national averages, New York government employees directly contribute a much smaller share of their own retirement costs.
And that’s not all: New York public pension funds are more heavily invested in stocks (which means more exposure to downside risk for the taxpayers), and government workers and retirees make up a much larger share of the electorate in New York than in other states.
The details, as calculated by Littlefield (with “local” in New York denoting the New York City systems):
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