Public pension pressure

| NY Torch

From my presentation at yesterday’s Manhattan Institute “Market Meltdown” conference, a chart depicting the 10-year trend in public pension fund contributions by New York State and City taxpayers:

Pension contributions over the past eight years have grown almost tenfold — from $991 million in 2000 to $9.6 billion in fiscal 2008.  And this reflects market conditions before the meltdown.

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