Tag: Public Pensions

Public employee unions, naturally, are staunch defenders of the old-fashioned defined benefit plans. But as E.J. McMahon noted in 2012 testimony before a joint legislative fiscal committee: "The current public pension system in New York, as in most other states, exposes taxpayers to intolerable levels of financial risk and volatility." Read More

The state's general pension fund was recently valued at a record $180.7 billion. Some, though, cautioned about future costs. "The state pension system remains a ticking time bomb," the Empire Center's E.J. McMahon wrote in his group's blog, NY Torch. Read More

“I think a lot of people might be surprised to the extent with which this happens around the state,” said E.J. McMahon, president of Empire Center for Public Policy, an Albany think tank. “You can actually bolster your pension with time spent working in uniform on private time.” Read More