State and local government employees in New York collect taxpayer-guaranteed pension benefits that are far more generous than those available to most private-sector workers. Use the articles and other resources available at New York's Pension Bomb to learn about the heavy costs of public pensions. 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
In the wake of the nation’s worst economic downturn since the 1930s, New York State’s counties, municipalities and school districts face intense budgetary pressure. To bring spending into line with tightly constrained revenues, especially under a newly imposed property tax cap, local governments need more than ever to control rising employee salary and benefit costs. Read More
As part of his 2012-13 budget legislation, Governor Cuomo has proposed the most significant and potentially far-reaching reform of New York public pensions in at least 36 years. While the governor’s plan is far from being an ideal solution to the problem of exploding pension costs and long-term liabilities, it includes some significant steps in the right direction, which are worthy of serious consideration and support. Read More
Traditional public employee pension programs in New York State have become unaffordable for taxpayers—while denying workers the ability to choose more flexible approaches to retirement planning. Read More
New York taxpayers spend billions of dollars a year on health insurance coverage for retired state and local government employees, many of whom are too young to be eligible for Medicare. But the mounting “pay-as-you-go” bill for retiree healthcare is just the tip of a much larger iceberg. Read More
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