Governor Hochul and state lawmakers this year approved a costly giveaway for public employee unions that retroactively hiked pension benefits. Now the bill is arriving. Read More
Tag: Public Pensions
Testimony of Edmund J. McMahon Before the NY State Senate Civil Service and Pension Committee October 11, 2023 (Text as prepared and submitted) Work Read More
New York City firefighters and fire officers retiring last year after full careers were entitled to , up 11 percent from the prior year, according to new data added to SeeThroughNY, the Em Read More
The pension plan covering most New York city government agencies, including the City’s subway system, had 47 members with pension payments of at least $200,00 last year, 11 more than in 2021, according to Read More
The number of New York State and Local Retirement System (NYSLRS) retirees eligible for six-figure pensions quadrupled over the last seven years. Read More
Average pension benefits for newly retired public educators outside New York City reached a record high last year Read More
New York taxpayers have been hit with enormous increases in pension costs for state and local government employees over the past 20 years. From less than $1 billion in 2000, combined annual employer contributions to the Empire State’s public pension funds escalated to nearly $10 billion by 2010, peaking at nearly $17 billion in 2015. Contributions have leveled off at roughly $16 billion in recent years—but under lenient government accounting standards, even that figure conceals the full long-term cost of generous, locked-in pension benefits for generations of retired government employees. Read More
18% of all public-school teachers and administrators employed by school districts outside New York City were paid over $100,000 last year Read More