Massive but partially hidden funding shortfalls are a feature, not a bug, of New York City's public pension system and its counterparts across the country. Read More
Tag: Public Pensions
"All of this points back to the unsustainability of the state's pension system," said Tim Hoefer, executive director of the Empire Center for Public Policy, an Albany-based think tank. 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
The number of teachers in New York collecting pensions jumped 9 percent between 2010 and 2013, and the average pension grew 6.5 percent over that period, records show. Read More
The Web site SeeThroughNY, which monitors government pensions and payrolls, said the new retirees swelled the exclusive six-figure club to more than 2,700. The figure has doubled over the past five years, the group said. Read More
Misuse tax dollars? Falsify public records? Take kickbacks for votes and influence? You may go to jail, but you probably won't lose your taxpayer-funded pension, thanks to a loophole in a recent state law. Read More
Two late-breaking bills stand out among more than a half-dozen pension sweeteners passed by New York’s state Legislature during the final days of the 2014 session. One would restore a benefit cut by Gov. Cuomo's Tier 6 reform, and the other would vastly expand pension credit for time served in the military. Read More
Both houses of the New York State Legislature have now approved a bill expanding the share of public pension funds that can be invested in complex, high-risk alternative assets such as private equity and hedge funds. Read More