Tag: Public Pensions

New York State's largest public pension fund earned 7.16 percent — short of its 7.5 percent target — during the fiscal year ending March 31, state Comptroller Thomas DiNapoli announced today. The $183.5 billion Common Retirement Fund, of which DiNapoli is sole trustee, had previously announced a first-quarter gain of 3.8 percent, a second-quarter loss of 0.52 percent and a third-quarter gain of 1.91 percent. Read More

Last week, the Illinois Supreme Court struck down a desperately needed overhaul of that state’s massively underfunded pension system. The case has chilling implications for Albany as well as Springfield — and for New York City as well as Chicago. Read More

New Yorkers are used to seeing the leaders of various municipal employees unions get hot and bothered about relatively trivial issues. It's who they are; it's what they do. Being anything but shrinking violets, these outspoken union bosses like the attention their outrage generates. And being seen as standing up in defense of their supposedly put-upon members always helps when they run for re-election. But even understanding that phenomenon, we're at a loss to understand the righteous indignation of several fire unions over a ruling that the New York City Fire Pension Fund must make public the name and pension amounts received by retirees. Read More